Why is an information security breach a potential national and global homeland security issue?
LW: Think about what data thieves do with stolen information. Data thieves drain your financial accounts, use your debit and credit cards fraudulently, use your identity and credit to open new accounts, create forged employment documents and other legal paperwork, and use your stolen identity to commit crimes and evade law enforcement. It is inevitable that some of this stolen information will be used to finance terrorism, and to create forged identities allowing terrorists to cross borders or access critical systems. This is what makes the current situation worse than even a global Enron and WorldCom fraud situation. Enron was, quote unquote, only about losing dollars. In the current meltdown, we are also losing data, on a massive scale that we have not even begun to grasp. You said that an information security breach also creates potential class action, consumer product liability, shareholder derivative, D and O liability, and regulatory exposure. Explain. LW: When companies have sen
