How A Financial Crisis Leaves Our Data Vulnerable
As major banks, insurance companies and investment firms fall victim to the current tsunami of financial storms, your privacy may suffer. When firms change hands, downsize their payrolls and transfer massive amounts of data, proprietary information is left exposed and privacy erodes.
At the end of September, the Dow Jones Industrial Average took the single biggest dive in history, dipping 777 points. In the wake of the impending reorganization of American business, your credit card balances, your mortgage, your savings accounts and your credit history will probably be reshuffled and reinserted into the database of the account’s new overseer.
After days of marathon negotiations, the bailout measure initially went down to defeat in the Congress by a vote of 228 to 205. After the Senate and the House gave final approval for a modified version of the $700 billion rescue plan, President Bush signed it into law on October 3rd, 2008.
Although the free markets globally are facing their toughest challenge ever, those markets do work. The problem is that they are controlled by human beings who are subject to behavior that is sometimes irrational, emotional and irresponsible.
Because of the irresponsible and sometimes deliberate misdeeds of the guardians of the financial gate, it is still your responsibility to to guard your personal information the best way you know how.
If you do not have a personal identity theft risk prevention, detection and mitigation plan in place, what are you waiting for? Visit the Privacy Rights Clearinghouse for great tips on how to protect yourself.