Cybersecurity and Consumer Data: What's at Risk for the Consumer? : Hearing Before Subcommittee on Commerce, Trade, and Consumer Protection of the Committee on Energy and Commerce, House of Representatives, One Hundred Eighth Congress, First Session, November 19, 2003

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Page 19 - Unfair methods of competition in or affecting commerce, and unfair or deceptive acts or practices in or affecting commerce, are declared unlawful.
Page 70 - In the past, we've made our software and services more compelling for users by adding new features and functionality, and by making our platform richly extensible. We've done a terrific job at that, but all those great features won't matter unless customers trust our software. So now, when we face a choice between adding features and resolving security issues, we need to choose security.
Page 22 - As part of its plan, each financial institution must: (1) designate one or more employees to coordinate the safeguards; (2) identify and assess the risks to customer information in each relevant area of the company's operation, and evaluate the effectiveness of the current safeguards for controlling these risks; (3) design and implement a safeguards program, and regularly monitor and test it; (4) hire appropriate service providers and contract with them to implement safeguards; and (5) evaluate and...
Page 2 - HOUSE OF REPRESENTATIVES, COMMITTEE ON ENERGY AND COMMERCE, SUBCOMMITTEE ON COMMERCE, TRADE, AND CONSUMER PROTECTION, Washington, DC. The subcommittee met, pursuant to notice, at 10 am, in room 2322 Rayburn House Office Building, Hon.
Page 22 - Reg. 8,616-41 (Feb. 1, institutions to develop a written information security plan that describes their programs to protect customer information. Given the wide variety of entities covered, the Safeguards Rule requires a plan that accounts for each entity's particular circumstances - its size and complexity, the nature and scope of its activities, and the sensitivity of the customer information it handles.
Page 19 - ... causes or is likely to cause substantial injury to consumers which is not reasonably avoidable by consumers themselves and not outweighed by countervailing benefits to consumers or to competition.
Page 20 - Commission is not simply saying "gotcha" for security breaches. Although a breach may indicate a problem with a company's security, breaches can happen, as noted above, even when a company has taken every reasonable precaution. In such instances, the breach will not violate the laws that the FTC enforces. Instead, the Commission recognizes that security is an ongoing process of using reasonable and appropriate measures in light of the circumstances. When breaches occur, our staff reviews available...
Page 68 - Internet to our future and the ways we could make the Internet truly useful for people. Over the last year it has become clear that ensuring .NET is a platform for Trustworthy Computing is more important than any other part of our work. If we don't do this, people simply won't be willing — or able — to take advantage of all the other great work we do.
Page 27 - Cyberspace," working with a team of dedicated public servants, this distinguished body and the American public. I have had the privilege of working with committed individuals in the private sector, law enforcement, and government to forge the collaboration and cooperation that is so essential to safeguard cyber space for everyone, from inexperienced home users to large well-run corporate enterprises. I assisted in the formation of some of the first collaborative efforts in the law enforcement community...
Page 19 - To date, the Commission's security cases have been based on deception,7 which the Commission and the courts have defined as a material representation or omission that is likely to mislead consumers acting reasonably under the circumstances.

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