Prevent Theft of Identity Data


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Sarbanes Oxley : Technology : Thought Leader

Prevent Theft of Identity Data

Tara Chand
President
Cyber Secure

Cyber Secure Inc., a division of Internet Promise Group LLC, announced that it has written a letter to SEC, Office of the Secretary, for the creation of a Sarbanes Oxley enforcement mechanism to prevent theft of Identity Data because, as evidenced by many news items and congressional hearings, Identity Theft has become a serious epidemic level issue.

Tara Chand, President of Cyber Secure Inc., said: ?Sarbanes Oxley 2002 was instrumental in creating many affirmative duties for the CEOs, CFOs and CIOs of corporations. One of these affirmative duties to secure Identity Theft sensitive data by inference creates an affirmative duty to evaluate and use best security practices and technologies.?

In this letter, Mr. Chand requested and urged the SEC to act to create a mechanism by which the Chief Information Officers of public companies affirm the knowledge of that duty on a quarterly basis and identify the activities related thereto.

Such an affirmation of using and evaluating the best security practices and technologies to thwart theft of data is in the public interest and the SEC should act to make that happen.

Many banks, financial institutions, and data brokers, are still using password alone authentication systems that have been shown to be ineffective security by everyone in the information security industry.

Mr. Chand said: ?If the SEC does not hold them accountable, they should be held accountable by private class action lawsuit from those whose identity data has been compromised.?

To raise the awareness of this issue, Cyber Secure has also begun serving information notices to CEOs and CIOs on their affirmative duties in this regard to prevent the theft of data. Mr. Chand, said: ?proactive steps are needed to make a dent in this epidemic level issue of theft of identity data.?

Cyber Secure Inc. innovates, builds, and markets products and services based on new technologies that specifically eliminate and reduce theft of ID data.

Cyber Secure is a subsidiary of Internet Promise Group LLC, which was founded in January 2000 as a research and development organization to innovate across a very large spectrum of new products and technologies.

For more information visit www.InternetPromise.com

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