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Chair good morning, now that our executive session is complete we turn to the issue of data breaches. This is not a new issue. The committee has been focused on the Consumer Impact since before i was elected to the senate. The september 2004 choice point breach was considered to be the first highprofile data breach in the modern era prompted investigations from this committee and state authorities. Choice point was a data Aggregation Company originally as fateby equifax who would have it is represented here today. In terms of the inquiry the major data breaches, we have come full circle. Congr...

Included the current and former ceos of equifax, the credit agencies that reported a cyber attack involving as many as 143 million consumers. This is two and a half hours. Chair good morning, now that our executive session is complete we turn to the issue of data breaches. This is not a new issue. The committee has been focused on the Consumer Impact since before i was elected to the senate. The september 2004 choice point breach was considered to be the first highprofile data breach in the modern era prompted investigations from this committee and state authorities. Choice point was a data Ag...

The institute for public knowledge. You are in the kind of annex space that we are hosting at this evenings event and we do a lot like this at the part that tries to take ideas and intellectuals that might otherwise spend too much time inside the ivory tower and project them out into the world, so we aim to generate conversations between Bank University world and have a lot to say to one another and we do many events like this and urge you to get on the mailing list if youre not already a part of the community. So tonight is especially exciting to me for many reasons. One is that our distingui...

That really target of the preacher was because of steps taken after the first . They actually had on lawful access to for more information that was breached the first time. Breach, call it a except for that one individual. It was not public or circulated. I want to thank the fbi for their very effective that resulted in the successful mitigation within 36 hours. The reason we are not saying anymore is because the investigation the is proceeding great proceeding. Everything was put on the web and put on a public website. The intruder wanted to show how clever he or she was and wanted the world ...

The estimated cost have reasonable defenses, and protection of sensitive information. From a few Million Dollars to as high as 50 million. These figures from other studies get saved. Approximately 100 for every identity stolen. We have 310,000 stolen. Is 310,000 times 100. The question i think mr. Maldon raised, an excellent question, whose shares in the responsibility for protection . It will bankrupt most universities to spend 2030,000,000 dollars when there is no guarantee any way. It is something that should be shared worldwide laying worldwide. Take one example. Social security numbers. S...