Authoriti Urges Law Makers to Flip the Industry’s Data Privacy Model and Protect Consumers From Misuse

While the world continues to focus on the impossible task of trying to keep consumer data secret, Authoriti encourages law makers and tech companies to instead focus on ways to prevent misuse of data  

The Authoriti Permission Code puts control in the hands of consumers, providing institutions with the confidence that every transaction is authorized. Prior to Authoriti, Steinberg served for six years as Chief Technology Officer of TD Ameritrade Holding Corporation, where he was responsible for technology innovation, platform architecture, engineering, operations, risk management, and cyber security.

NEW YORK, April 09, 2018 -- The Authoriti Network, which was founded last year to create new approaches to prevent misuse of data, today published a blog encouraging industry leaders and lawmakers to flip the decades-old industry data privacy model and focus on preventing misuse of data rather than secrecy.

“Many assume that data privacy means data secrecy – it doesn’t,” said Lou Steinberg, Managing Partner at Authoriti. “The crazy thing is that we are now trying to treat data that has already become public as a secret.”

“Predictably, there is a sense of urgency to get angry and pass laws when there is a large data breach, even if that data is already available from multiple sources,” continued Steinberg.
“Today, we are making another CEO apologize in front of Congress, and new data privacy regulations will emerge. But that’s like closing the barn door after the horses have left. We should be focusing on how to prevent people from misusing our data.”

“Data privacy should be about me, as a consumer, regaining control of how my information is used. Misuse is identity theft and fraud.  Misuse is robo calling me.  Misuse is making unauthorized charges on my credit card.  Misuse is filing a fake tax return.  Misuse is creating new credit in my name.  Misuse is draining my bank account.”

“In our rush to protect data from being known, we have lost sight of the fact that what we really care about is our data and identity being used without our explicit permission.  Regulations should focus on the intentional act of using data, not on how and where data is held in secret.  Legitimate businesses shouldn’t be allowed to misuse my data, and illegitimate ones should be held accountable if they try.”

Steinberg’s blog, “Data Privacy: We Are Solving the Wrong Problem,” was published today on the Authoriti website.

Authoriti Founders
The company’s founders have significant C-level experience dealing with information security at-scale in the world's leading financial institutions. The team includes:

Marv Adams, an IT and infosec leader at industry leading financials and providers, with C-level experience at TD Ameritrade, TIAA-CREF, Citigroup, Bank One, and Ford.

Larry Bettino, an investor in high-growth tech companies, with executive experience at technology-focused VC and private equity companies. His career spans tech and finance companies such as IBM, Dillon Read, Baker, and Warburg Pincus.

Lou Steinberg, who has a history of successful startups and at-scale, resilient, secure infrastructure, with leadership roles at TD Ameritrade, Comcast, Citigroup, IBM and Fidelity.

About The Authoriti Network
The Authoriti Network was founded in 2017 to identify new approaches to prevent misuse of Identifiers and Personally Identifiable Information. The Company believes we should regulate data misuse, forcing those that receive and process consumer data to get explicit permission for each use or transaction. 

Our founders have significant leadership experience dealing with InfoSec at-scale in the world's leading financial institutions. Authoriti develops the patent-pending Authoriti Permission Code™, which puts control of transactions in the hands of the consumer and gives institutions the confidence that the transactions are authorized. Visit https://authoriti.net.

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