CHICAGO (CBS) — Illinois Attorney General Lisa Madigan on Wednesday called for the formation of a new federal agency to investigate data breaches in much the same way the National Transportation Safety Board investigates plane and train crashes.READ MORE: Blackhawks GM Stan Bowman Has 'Stepped Aside' Following Independent Probe Into 2010 Sexual Assault Claim Against Former Coach
WBBM Newsradio’s John Cody reports Madigan said the federal government lacks a single group to determine the extent of damage caused by a data breach, and come up with ways to fix them and prevent them in the future.
“It just makes sense that somebody has to take responsibility in this day and age for putting in place safety standards for our personal financial information, because otherwise you have disruption and a significant impact, potentially, to the overall marketplace,” she said.
Madigan said data thieves are more likely to make online purchases with stolen private information in Chicago than Los Angeles or Miami.READ MORE: SWAT Teams On Scene For Hours As Man Barricades Himself In Lemont Township Home With Child
She said it should be up to the federal government to investigate large-scale data breaches, just like the feds investigate airplane crashes.
“The NTSB comes in, and they do an investigation to determine what happened, to improve safety standards,” she said. “So the idea would be something similar.”
Madigan pointed to last year’s data breach at Target stores, which exposed the private information of nearly 110 million American consumers amid the holiday shopping season. She said that breach caused a temporary 6 percent drop in sales.
She also said too many companies collect too much private information, and keep it too long, enhancing the risk of identity theft.MORE NEWS: Data Show More Than 100 Carjackings In Austin Community This Year, Just 5 Not Far Away In Hermosa
Madigan also expressed dismay that only one-third of identity theft victims do anything to protect themselves from further fraud.