On the internet, no one knows you’re a dog. Maybe.
“Lawsuit Highlights Online Reviews,” The Wall Street Journal, September 20, 2017 A6. Plastic surgeon sues former patient for negative online review. Accuses her of making false accusations. Case appears to be going to trial, which is unusual. Offer to settle now at $1.8 million, which is nothing to sneeze at.
Wouldn’t you want to know if your doctor screwed up? And if he didn’t, where does he go to get his reputation back?
“Banks Weigh Shift From Equifax,” The Wall Street Journal, September 13, 2017 B14. Hack of 143 million accounts causes banks to turn to Equifax’s competitors.
Talk about closing the barn door after 143 million horses have bolted! What are the banks doing to prevent the fraudulent use of the information obtained through the hack in their decisions to issue or deny credit? Merely moving to a different credit bureau doesn’t begin to address the flaw in the banking system’s reliance on your Social Security Number and date of birth to uniquely identify you.
Not that I’m calling for a National ID card. Maybe we should all have a microchip, like our pets. Don’t we need a new solution, suitable for the digital age?
See related note at “Hack of All Hacks,” September 12, 2017.
Filed under Access, Accuracy, Controls, Corporation, Duty, Duty of Care, Governance, Information, Internal controls, Operations, Oversight, Privacy, Protect assets, Third parties, Use, Value
This blog focuses on the intersections of compliance, governance, and information. Most of the postings are about failures to govern appropriately, non-compliance, or the misuse of information. This one is different.
“Hospitals Use Alerts to Curb Unnecessary Care,” The Wall Street Journal, September 13, 2017 R2. Digital alerts embedded in patients’ medical records used to prevent or reduce medical errors (or lapses in the treating physicians’ memories). See also several other articles in the same report, many of which describe the use of technology to solve some of the information problems in the practice of medicine.
The problem with information is that we have so much, it’s hard to access what we need to when we need to. Having it is not enough; you have to use it to get value.
Filed under Access, Accuracy, Collect, Controls, Governance, Information, Internal controls, IT, Management, Oversight, Security, Use, Value
The Yahoo hack may have affected 1.5 billion customers. But in terms of targeted hacks, OPM was pretty big. There’s a new contender for the Hack of Hacks.
“Equifax Reveals Huge Breach,” The Wall Street Journal, September 8, 2017 A1. The records (name, address, Social Security number, birth date, etc.) of 143 million US consumers at the credit reporting company have been hacked. That’s roughly half the US. And they sat on it for awhile (since they discovered in on July 29).
Will this fundamentally change the landscape? Will we see EU-level privacy controls in the US? Will the directors of Equifax face personal liability for not ensuring the information was protected? How can you protect your Social Security Number five years from now? How will credit decisions be made in the future?
Filed under Access, Accuracy, Board, Compliance, Compliance, Compliance Verification, Controls, Corporation, Directors, Duty, Duty of Care, Governance, Information, Internal controls, IT, Oversight, Oversight, Privacy, Protect assets, Protect information assets, Risk Assessment, Security, Supervision, Value, Vendors
“Shareholders Sue More Frequently,” The Wall Street Journal, August 22, 2017 B1. Study show shareholders (or class action lawyers) are litigating more when their company is sued, alleging false and misleading statements by management. One-hundred thirty-one suits in fist six months of 2017.
So, when communicating to the market or shareholders, make sure everything will stand the test of time. Is it accurate? Is it complete?
Filed under Accuracy, Board, Communications, Controls, Corporation, Directors, Duty, Duty of Care, Governance, Inform market, Inform shareholders, Information, Investor relations, Risk assessment, Third parties, Value
“CEO’s Simple Trick on Earnings Calls: Saying ‘I,’ ‘We’ and ‘Us’,” The Wall Street Journal, August 7, 2017 R1. Do CEOs control their use of “I” and “us” to manipulate your response? If they are doing this, who else is massaging their language to influence you?
Are you a critical listener? Does the content of the information delivery affect your reception? Do people other than CEOs do this?
There are people who make a living teaching others how to do this. Sometimes for crisis response, sometimes for news broadcasts.
Is this information governance? Is someone controlling how you get information?
“Hackers Target Private Data, Network Access of Young Job Seekers,” The Wall Street Journal, August 21, 2017 B5. Job scams continue. Some use fake LinkedIn profiles.
Be careful on the web. When you click, you get what they send, not necessarily what you expect. Control what information you get.
Lot of hacks since then.