U.S. SENATE JUDICIARY COMMITTEE’S APPROVAL ON DATA SECURITY BILL LONG TIME COMING ACCORDING TO TRACESECURITY
CEO Peter Stewart of TraceSecurity Believes New Proposed Data Security Bill Way Overdue But Finally Has Some Teeth To Prosecute Businesses That Don’t Have Proper Security Policies in Place to Protect Consumers
BATON ROUGE, La. – (May. 8, 2007) – TraceSecurity, a leading provider of on-demand security compliance management solutions, announced today that the federal government has finally taken some remedial steps in approving a data security bill, the Personal Data Privacy and Security Act of 2007, which would actually prosecute data brokers and other businesses that violate data security requirements revolving around the management and protection of consumers’ personally identifiable information. The bill, introduced by Chairman Patrick Leahy, would require data brokers and other businesses to inform consumers to the release of private information to third parties and prosecute businesses for lacking safeguards of customers' personal information.
“While Congress has taken baby steps before in introducing data security bills, the Personal Data Privacy and Security Act of 2007 finally has some real teeth,” remarked Peter Stewart, CEO and President of TraceSecurity. “The thought of being prosecuted for not adequately safeguarding consumers’ personal data should send a clear message to data brokers and other businesses that the government is finally getting tough about protecting the average consumer’s personal data.”
A History of Poor Data Security
The Personal Data Privacy and Security Act of 2007 follows in the footsteps of recently publicized data loss incidents at JP MorganChase, TJX, and Radio Shack. In all three data loss incidents, consumers’ personal data was compromised by lackadaisical company data security policies and procedures. According to the Privacy Rights ClearingHouse (www.privactyrights.org), over 153,800,715 sensitive data records have been compromised since 2005 due to security breaches, which does not represent the overall number of people who were compromised.
About TraceSecurity
TraceSecurity is a leading provider of security compliance and risk management solutions. The company helps organizations of all sizes to achieve, maintain and demonstrate security compliance while significantly improving their security posture. Key to TraceSecurity’s success is the company’s comprehensive patent-pending methodology that helps clients address all of the critical components of a successful security compliance program; people, process and technology.
TraceSecurity delivers its solutions through an integrated software-as-a-service platform backed by expert professional services and comprehensive security awareness programs. The company’s flagship offering, TraceCompliance Manager, is the first comprehensive solution to automate regulatory compliance audits, board level reporting, policy management, vulnerability assessment, and employee education and testing. The company’s expert professional services include onsite risk assessments, security audits, and social engineering. The security awareness programs include an exhaustive set of standard offerings as well as custom designed courses. With over 500 clients, TraceSecurity supports the risk management and security compliance efforts of organizations in financial services, healthcare, insurance, government and other regulated sectors. For more information, please visit www.tracesecurity.com.
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FOR IMMEDIATE RELEASE:
David Splivalo
Freestyle Public Relations
515-223-4343
david@freestylepr.com
