Criminals buy new Yorkers stolen data so they can take out fraudulent loans, run up bad debts on some else’s dime. New York’s attorney general says more and more of us are becoming victims of cyber security attacks. Dave tells us why Eric schneiderman calls this a digital epidemic. The laws that protect your personal information in New York are not keeping pace with technology, especially as the world is faced with a growing number of security threats to sensitive data like your social security number and bank accounts. Today, the state attorney general released a report showing 2017 was the worst year for security breaches, which means the problem isn’t getting any better.
Data breaches cause personal crises for new Yorkers every time they hit and with each passing year, they’re hitting with more frequency and intensity meaning the chance of someone stealing your personal data, like a social security number of bank account, is only growing. State attorney general erie schneiderman says the criminals are getting smarter, and we’re giving them more chances to cheat us. Criminals buy new Yorkers stolen data so they can take out fraudulent loans, run up bad debts on some else’s dime. The problem is only getting worse. 2017 was the worst year for data and security breaches since the state started keeping track a dozen years ago.
The personal records of more than nine million new Yorkers that’s half the state’s adult population were exposed in more than 1,500 breaches and, thanks to the current laws on protecting consumer data, schneiderman knows the actual numbers of what he describes as a digital epidemic are even larger. New York’s current data security law is outdated and toothless. That’s why schneiderman is again calling for new legislation that would require businesses to take additional steps to protect their customers’ data.
The shield act, which stands for stop hacks and improve electronic data security, would require companies to adopt administrative, technical, and physical safeguards for sensitive data and it would force businesses that experience hacking to report security breaches immediately or face hefty fines. Sometimes people are slow to adjust to technology, but we’re approaching the epidemic of identity theft and the dangers of hacking are just so substantial, we have to take action. Schneiderman says his office is also preparing new legislation that would require companies like face book to notify the state and consumers as soon as they learn their users’ personal data has been misused.