This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Consumer Data Rights Are Serious Business

Stocks in this article: P SNE GOOG

NEW YORK ( TheStreet) -- As social media companies like Pandora (P - Get Report) and Facebook continue to draw scrutiny for privacy concerns, and hacking attempts plague Sony (SNE - Get Report) and many others, security experts issued words of caution to business leaders.

The message from David Vladeck, director of the FTC's bureau of consumer protection, boils down to: Don't gather data unless it's completely necessary.

"If you don't want to see us, don't collect data you don't need that's unrelated to the functionality of your app," he said at the Web 2.0 conference Tuesday in San Francisco. "It's an albatross that can come back and really bite you."

Protecting children's privacy is one of the biggest concerns the FTC is currently addressing, Vladeck said. Several mobile app makers are targeting children under 12 and pulling data including their e-mail addresses and geo-location, which is prohibited under the Children's Online Privacy Protection Act.

Mobile developer Broken Thumbs Apps settled a dispute with the FTC in August over its app Emily's Dress Up and Shop, which is targeted towards children, following allegations it violated the legislation.

Data security is another significant area of interest to the FTC, though one where it isn't making much progress, Vladeck admitted.

"Data we think should be held in the most secure way, like social security numbers, aren't being protected with the vigilance that is required," he said. "Time and time again our investigations show very lax security measures that don't meet any reasonable standard."

A wave of tech companies have been hit by security issues in the last few months, including most notably Sony, whose PlayStation Network was breached by hackers in April who stole names, addresses and birth dates from 100 million users.

Game makers Sega and Nintendo were also targeted by hackers, as was Google (GOOG), whose G-mail service was targeted by attacks in China.

-- Written by Olivia Oran in New York.



>To follow the writer on Twitter, go to http://twitter.com/Ozoran.

>To submit a news tip, send an email to: tips@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,191.37 -195.84 -1.13%
S&P 500 2,002.16 -27.39 -1.35%
NASDAQ 4,637.9940 -43.5030 -0.93%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs