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Lawmakers Tacke Privacy
Oleh:
Pugliese, Anthony
;
Kravitz, Peter M.
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
Journal of Accountancy vol. 189 no. 6 (2000)
,
page 29-34.
Topik:
LAWS
;
lawmakers
;
privacy
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
JJ85.10
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Tech growing pains are giving privacy issues a high profile. Technology allows the easy accumulation and distribution of personal financial data as well as the theft of these data. The growing demands and interrelatedness of the marketplace have increased companies’ need for profiling the purchasing habits and financial situations of consumers. A few companies made headlines last year for their poor stewardship of customer information. This notoriety helped to make consumer financial privacy an urgent issue for Congress, the public and the business community. For example, U. S. Bancorp of Minnesota sold confidential customer financial information from its files to third - party marketers. The story made national news, causing U. S. Bancorp and several other financial institutions to stop the practice and prompting the Minnesota attorney general to file suit against U. S. Bancorp. In another major privacy story, Amazon.com profiled its customers’ most popular book and music purchases, named the companies employing those customers making the purchases and published the information on its Web site. Customers’ reaction caused Amazon.com to immediately stop publishing it. But Amazon still retains the data. According to USA Today, only 20 of the 100 biggest online retailers have privacy policies that restrict the use of customer information to completing transactions. Although some e-commerce companies have seals - such as the WebTrustSM seal - to indicate the company’s privacy policy, consumer groups and many on Capitol Hill believe that regulating the use of private financial information is necessary, and that disclosure and consumer choice regarding privacy policies are not enough to protect consumer privacy. This is an area where the CPA’s expertise puts him or her in an excellent position to help financial institutions to implement, maintain and monitor the privacy policies and systems they will have to create.
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