[Dataloss] time to name names (was Re: MORE BNY (Mellon Corp)Tapes lost)

Marjorie Simmons lawyer at carpereslegalis.com
Sat Jun 7 03:10:19 UTC 2008

Willard Dail wrote in reply to Paul Ferguson: 
 | the street value of an identity is meaningless, unless one 
 | plans to sell identities . . . . The only use I have ever found 
 | for the data is to illustrate a thief's financial incentive . . .

True, Willard, that is one legitimate use of an account of the 
street value of an identity.

Paul Ferguson wrote in reply to Marjorie Simmons:
 [Simmons wrote in reply to Michele Corcoran]
 | > | Even if you go with a conservative estimate that one
 | > | 'identity' is worth less than 20 bucks (recently stated
 | > | in a paper) . . .
 | >
 |>>First, the worth of an identity is not the market value
 |>>of the identity, because the market is illegitimate.

 |> I would suggest that is actually not the case -- while the
 |> market for identity credentials (includes login IDs, credit
 |> card numbers, CVV & Track 2 data, SSNs, etc.) may indeed be
 |> illegitimate, it is thriving.

 |> So as far as I'm concerned, the statement above on market 
 |> value is completely meaningless.

Paul, it is not clear to which statement you are referring. 
The worth of an identity depends upon to whom you 
are referring: the loser or the purchaser. If it is the loser, 
the worth of an identity is not equal to the market value. 
If it is to the purchaser, it may be, it depends. You may 
have misunderstood my meaning, and perhaps I could 
have been clearer.

To illustrate, consider the market value of a certain stock. 
On Wall Street, the stock price may be $x per share. To 
an investor with an agenda or plan it may be worth much 
more or much less, even if that investor purchases some 
shares at the market price.

To most individuals their identity is worth quite a bit, 
even if a thief can sell it on the black market for $20.

Perhaps this helps.


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