"Just like businesses use modern technologies for greater productivity and return on investment, so do today's criminals," Conner said. "What's more, they are becoming increasingly organized and sophisticated in carrying out their illegal acts. As such, we are now facing online challenges that extend far beyond individual teenage hackers to highly proficient organized criminals."
In response to major recent security breaches, Conner urged Congress to enact a uniform national breach notification law for unauthorized access to unencrypted personal information. Further, he stressed the critical importance of including "safe harbor" provisions for companies that utilize encryption to protect sensitive information and data. At present, over 20 states have passed or are considering breach disclosure legislation.
"Encryption 'safe harbor' provisions benefit not only consumers and citizens, but also provide incentives for business and organizations to provide greater security throughout their operations as they continue to use and store sensitive data. It is a win-win proposition, which ultimately benefits all parties involved," continued Conner.
The panel discussed a number of recommendations aimed at thwarting online data theft. Among them was the adoption of new technologies for the purpose of protecting sensitive information. Conner echoed recent calls by the Federal Deposit Insurance Corporation (FDIC) for organizations to utilize second-factor authentication technologies to protect consumers from identity theft and enterprises from unauthorized access to sensitive data. Conner cited the company's own second-factor authentication solution, Entrust IdentityGuard, as an example of an available, highly secure and affordable technology for use by both consumers and enterprises.
"New innovations are now widely available that can profoundly alter and secure online trust. Entrust has initiated a program called 'authentication for the masses' with the aim of equipping consumers and businesses with easy to use solutions to protect their identities and information. To be effective, however, governments across the globe must elevate cybercrime to the highest possible levels. We are truly at an inflection point. As we have seen through breaches exposing millions of consumers' personal data, the effects of inaction are devastating," concluded Conner.
