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The horror stories about the non-responsiveness of credit bureaus to pleas that a stolen identity has created an untenable situation for an innocent victim are legion. Wonder how Equifax and TransUnion, et al, will deal with any such fallout from their second breach in a year here in Canada, as described in this Globe and Mail item: Criminals breach Equifax security for second time.
The story points to one of the principle challenges of making a business case for a digital identity management operation: the largely unquantifiable liabilities that could arise. One of which is the real potential that such a breach could deflate a business very fast as pointed out by network security consultant Claudiu Popa, president of Informatica Corp., "For a credit reporting agency, this is a huge hit. . . . All the trust goes out the window."
Oops.
Posted by Grayson at June 17, 2005 11:09 AM