Press Releases

Private Sector, Government Must Collaborate to Combat ID Theft and Phishing

Entrust CEO Conner Tells House Panel That Executive Management Must Make Cyber Security a Priority

22 Sep 2004

WASHINGTON, D.C. – Most businesses are still not doing enough to secure their systems against cyber threats such as identity theft and phishing scams, said Entrust, Inc. [NASDAQ: ENTU] President and CEO Bill Conner in testimony before a subcommittee of the House Government Reform Committee today. During the hearing before the Subcommittee on Technology, Information Policy, Intergovernmental Relations and the Census, Conner outlined the real threat of identity theft and phishing and what Congress and industry can do to address this growing issue. 

“Identity theft and phishing threaten not only to undermine trust in business and the Internet, but also to disrupt our national economy. Nine percent of U.S. online consumers have experienced identity theft and phishing attacks are now growing at over 50 percent per month,” said Conner. “They are not isolated problems that can be tackled by themselves, but part of the broader cyber security challenge.”

As CEO of Entrust, a leading provider of Identity and Access Management solutions, Conner is a leading voice in the cyber security debate chairing two major industry task forces that call for making information security a senior management and board-level issue as part of a company’s corporate governance activities.

In his testimony, Conner outlined four recommendations on how Congress can play a role in securing the online security of consumers and business.

1. Require Federal agencies to purchase and deploy cyber security technologies.

2. Clarify that cyber security measures are an explicit part of Section 404 of the Sarbanes-Oxley legislation.

3. Drive the implementation of the Homeland Security Presidential Directive HSPD-12.

4. Lead by example via discouraging agencies from purchasing security products from companies with inadequate cyber security programs.

For a full copy of Conner’s testimony, please visit: http://www.entrust.com/news-archives/2004/testimony_09_22_04.pdf

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