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Posts Tagged Security

Express Scripts data breach: Isolated Incident or Endemic Problem?

Express Scripts data breach may have hit 700,000 victims

SC Magazine | Chuck Miller | October 1, 2009

Last year’s data breach of St. Louis-based Express Scripts may be more serious than initially believed.

In November 2008, the major pharmacy benefit management firm said it received an anonymous letter that included the names, Social Security numbers, birth dates and, in some cases, prescription information of 75 members. The writer or writers threatened to release millions of more records if the business failed to pay an unspecified sum of money.

In the last two months, based on new information from the extortionists, Express Scripts began notifying more than 700,000 victims of their personal information may have been compromised.

CLOUD Take: It is interesting that a data breach that affected 700,000 people is perceived as a breach of Express Scripts.  Although the point of loss may have been systems at Express Scripts, there were 700,000 breaches, not one. Read the rest of this entry »

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Bank Technology News Reports Consumers Want to Control Personal Information

James Van Dyke writes in the Oct. 2009 Bank Technology News that new research shows more than 80% of bank customers see themselves as part of security solutions. This is good news for safer and more efficient use of data in all Internet transactions.

With consumers seeking greater participation in their security, banks, issuers, merchants, and vendors can take advantage of the tremendous growth opportunities in the financial security sector. Security professionals can improve their ability to fund strategic investments in customer-partnered security methods, using factual research data to bolster business cases with benefits such as increased customer acquisition, cross-selling, loyalty, and increased preference at point-of purchase.

CLOUD’s priority is the creation of standards to make consumer control over their own information faster, easier and less expensive.

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