Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Cybersecurity
    • Cybersecurity

    IT Security Providers Lobby for Incentives

    By
    Caron Carlson
    -
    April 19, 2004
    Share
    Facebook
    Twitter
    Linkedin

      The U.S. government does not need to mandate IT security audit reporting because corporate America will adopt best practices voluntarily, industry lobbyists promised. But they said Congress could encourage the process by providing incentives, such as limited liability for security breaches, tax breaks for buying qualified products and an antitrust exemption for group boycotts of uncertified goods.

      A broad cross-section of U.S. businesses have asked Congress to be allowed to establish security specification agreements for software and hardware purchases.

      In a recommendation delivered to the House technology subcommittee, several industry groups are seeking an exemption from antitrust laws if they jointly refuse to purchase uncertified products.

      The proposal, part of a set of recommendations covering a broad range of cyber-security practices meant to deflect the possibility of new regulations, was not received favorably by IT security providers.

      “Im not sure if that necessarily works,” Art Coviello, president and CEO of RSA Security Inc., of Bedford, Mass., told eWEEK. “All businesses have different requirements. And, quite frankly, they might not be qualified [to establish standards].”

      Fragmenting security standards on an industry-specific basis could be counterproductive, said Bill Conner, chairman, president and CEO of Entrust Inc., of Addison, Texas.

      “To the extent that you start getting industry-specific, youre working against yourself. We need a common framework that we can all measure to,” Conner said. “As a supplier, you cant create eight different levels.”

      The antitrust exemption and other recommendations were delivered to Rep. Adam Putnam, R-Fla., who chairs the technology subcommittee. Last year, Putnam drafted legislation that would require publicly traded companies to file an information security status report as part of their yearly Securities and Exchange Commission filing. He postponed introducing the bill, however, and convened a Corporate Information Security Working Group to find alternative ideas.

      The working group concluded that traditional regulations wont be effective when it comes to network security because national laws dont address the international nature of cyberspace. In addition, public disclosure of security problems could guide terrorists in their work, the group told Putnam. Instead of the “stick” of traditional government mandates, the industry is urging Congress to provide the “carrots.”

      Limiting liability for security breaches or providing safe-harbor protections could encourage the insurance industry to offer cyber-risk insurance—something that isnt widely offered today because the potential costs are considered too high. Increasing the availability and use of insurance would, in turn, encourage more companies to adopt best practices in order to receive favorable insurance rates.

      The working group also suggested economic incentives for IT security investments, but it is widely agreed that the proposal would face a tough battle in the current budgetary climate.

      /zimages/4/28571.gifCheck out eWEEK.coms Security Center at http://security.eweek.com for security news, views and analysis. Be sure to add our eWEEK.com security news feed to your RSS newsreader or My Yahoo page: /zimages/4/19420.gif http://us.i1.yimg.com/us.yimg.com/i/us/my/addtomyyahoo2.gif

      Caron Carlson

      MOST POPULAR ARTICLES

      Android

      Samsung Galaxy XCover Pro: Durability for Tough...

      Chris Preimesberger - December 5, 2020 0
      Have you ever dropped your phone, winced and felt the pain as it hit the sidewalk? Either the screen splintered like a windshield being...
      Read more
      Cloud

      Why Data Security Will Face Even Harsher...

      Chris Preimesberger - December 1, 2020 0
      Who would know more about details of the hacking process than an actual former career hacker? And who wants to understand all they can...
      Read more
      Cybersecurity

      How Veritas Is Shining a Light Into...

      eWEEK EDITORS - September 25, 2020 0
      Protecting data has always been one of the most important tasks in all of IT, yet as more companies become data companies at the...
      Read more
      Cybersecurity

      Visa’s Michael Jabbara on Cybersecurity and Digital...

      James Maguire - May 17, 2022 0
      I spoke with Michael Jabbara, VP and Global Head of Fraud Services at Visa, about the cybersecurity technology used to ensure the safe transfer...
      Read more
      Cloud

      Yotascale CEO Asim Razzaq on Controlling Multicloud...

      James Maguire - May 5, 2022 0
      Asim Razzaq, CEO of Yotascale, provides guidance on understanding—and containing—the complex cost structure of multicloud computing. Among the topics we covered:  As you survey the...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2021 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×