Today, Capital One -- a popular bank and credit card company -- announced that an “outside individual” with “unauthorized access” had obtained the personal information of about 106 million customers who had applied for its credit card products.
Today, the Federal Trade Commission and the Consumer Financial Protection Bureau announced an Equifax settlement that includes a fine up to $700 million for the 2017 Equifax data breach that jeopardized sensitive financial data of millions of Americans.
Yesterday, the Senate Homeland Security and Governmental Affairs Committee’s Permanent Subcommittee on Investigations released its report on a probe into the 2017 Equifax hack stating that the company’s response was both “inadequate” and “hampered by [a] neglect of cybersecurity.” The report finds that the company’s shortcomings are both “long-standing” and “reflect a broader culture of complacency toward cybersecurity preparedness.”
Today, we’re happy to announce our newest white paper, “Security Shield: A Label to Support Sustainable Cybersecurity,” by Public Knowledge Cybersecurity Policy Director Megan Stifel and Policy Fellow Dylan Gilbert. The paper proposes the creation of a “Security Shield” label to inform purchasers that a product has followed recognized best cybersecurity practices and should be more secure than similar products without such a label.
Last year, we published a white paper recommending stakeholders improve cybersecurity and foster innovation by drawing upon time-tested principles from sustainability management. The paper observed that transitioning to a sustainable approach to cybersecurity embraces the principles of shared responsibility and collective action, frames business costs associated with improved security as an investment in the internet ecosystem, encourages broad adoption of risk-management practices, and supports consumer engagement.