Wave Systems Corp. (fka WAVXQ)

[tampa123]

nicknamen - Here's a good start as to how to quantify it:

1. SOX non-compliance carries penalties up to $5 million, depending on the offense.

2. The Cost of Data Loss -
http://www.informationweek.com/security/showArticle.jhtml;jsessionid=TGLUMDIKTTQNEQSNDLRSKH0CJUNN2JV...

Top 10 Customer Data-Loss Incidents
Company/Organization No. of affected Date of initial customers disclosure
CardSystems 40 million June 17, 2005
Citigroup 3.9 million June 6, 2005
DSW Shoe Warehouse 1.4 million March 8, 2005
Bank of America 1.2 million Feb. 25, 2005
Wachovia, Bank of America, PNC Financial Services Group, Commerce Bancorp 676,000 April 28, 2005
Time Warner 600,000 May 2, 2005
Georgia Department of Motor Vehicles 465,000 April 2005
LexisNexis 310,000 March 9, 2005
University of Southern California 270,000 July 19, 2005
Marriott International 206,000 Dec. 28, 2005
Note: As of March 2006
Data: Privacy Rights Clearinghouse, InformationWeek


3. It'll cost you your job

http://www.computerworld.com/blogs/node/3283

Heads roll at AOL
By Martin McKeay on Tue, 08/22/2006 - 8:52am
I'm sure no one's surprised to hear that someone has lost their job at AOL over the search record debacle . Let loose the search records of 600,000 customers without properly anonymizing the data and there's bound to be some repercussions. I think my favorite headline so far is "Reason for leaving last job: Violated the privacy of 600,000 company customers". That would definitely sum up the situation of the poor drone who released the database. I feel bad for him and his boss, who were fired for their transgressions, but I feel a little less sympathy for their CTO, Maureen Govern, whose resignation probably involved some financial compensation, at least if it's like the few resignations I've seen.

I'm hoping that the other search engine companies will sit up and take notice. Google has already proven that they understand the value of their search records, but what are some of the other search engines (or at least the people who manage them) take from this experience? Will players like MSN and Yahoo take this as a warning not to let a similar incident happen to them or is some sales director in the organization see this as an indication that the information is worth selling? Given that Time Warner's stock has taken a slight hit, I'm hoping any wild ideas inside these companies will be quashed before they can see the light of day.