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Acquisti, Do Data Breach Disclosure Laws Reduce Identity Theft?

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Acquisti, Do Data Breach Disclosure Laws Reduce Identity Theft?

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http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1268926 This paper summarizes the debates surrounding security breach notification laws and evaluates their impact on the latest FTC data on identity theft. The authors’ analysis reveals a modest but statistically significant effect of security breach disclosure laws in reducing identity theft rates by approximately 2%. The authors conclude that the effectiveness of SBN legislation is contingent on improved security practices by both firms and consumers. Cybercrime Against Businesses, 2005 – Bureau of Justice Statistics Special Report http://www.ojp.usdoj.gov/bjs/pub/pdf/cb05.pdf A DOJ cybercrime survey of over eight thousand U.S. businesses indicated that computer viruses were the most common form of cybercrime and that 86% of victimized businesses detected multiple incidents, among other findings. 91% of respondents who were victims of cybercrime experienced losses, and 74% of cyber theft incidents involved insiders. Conversely, most

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