Newsletter March 2019

Dear Reader,
The LegacyArmour monthly Newsletter generally explores some of the considerations that all of us must address as our culture and our economy becomes more and more digitized.  We all take advantage of the benefits and convenience of the internet, cell phones, computers, and online banking, but we need to also consider using technology to protect our assets, knowledge and history. This March volume will be about your right for Privacy.
No Guarantee of Privacy
Many people are surprised to learn that there is no guarantee to privacy in the U.S. Constitution.  The 4th amendment merely says “The right of the people to be secure in their persons, houses, papers, and effects,[a] against unreasonable searches and seizures, shall not be violated…”  Any idea of “Digital privacy” is an interpretation of this clause which could vary depending on which entity owns that interpretation and to which subjects.
Keep reading to find out more!
Volume 03 
This issue
P1. Why is Privacy So Difficult?
P2. What is CCPA?
P3. Events and News
Why is Privacy So Difficult?
Privacy seems like a simple enough concept.  Some things, like your personal health information, are private and you should have the right to either disclose it to others or to keep it private.  The real challenge comes in drafting laws that protect the individual while also protecting the common good.

The United States doesn’t have an overreaching privacy law at a federal level.  Because of that, according to our constitution, every state is allowed to create their own laws as they see fit.  This worked OK, until all of our information went online.  Now, quite honestly, it is a mess.

Let’s say you live in Virginia and see a doctor there.  That doctor uses a billing service in California who bills and accepts payments from Blue Cross/Blue Shield insurance who processes your claim out of their center in Iowa.  If, God forbid, your information is breached somewhere in the process, whose laws apply?

Congress has tried to fix some of this by passing laws that apply to specific
Industries, such as healthcare’s federal Health Insurance Portability and Accountability Act (HIPAA).  But that only covers the insurance part of your healthcare.  What about the rest? 

Most people assume that there are laws to protect their privacy in every aspect of their digital lives.  The truth of the matter is much more ad hoc, and some parts of your life have no privacy protection at all. 

It is interesting to note that the European Union has gone the exact opposite route and passed a set of privacy rules that apply to every person and every industry regardless of the nature of the information. It is called the General Data Protection Regulation (GDPR).  California’s new law, the California Consumer Privacy Act (CCPA) is modeled after the GDPR, but isn’t quite as stringent. 

The only thing that is certain is that  Privacy laws are changing, and in the end, it is up to every individual to ensure their privacy is upheld.

The CCPA is California’s New Privacy Protection Act.  It will be a watershed piece of legislation that will change how businesses protect your privacy.  Under it, you have the following rights:

1.  Know what personal information is being collected about you.  If a company is collecting personal information about you, they need to tell you.

2. Know whether your personal information is sold or disclosed and to whom.  That makes sense!  Don’t you think?
3. Say “No” to the sale of your information.  It is your information. You should be able to decide if someone else shares it or makes money from it.

4. Access your Personal Information.  Again, doesn’t this just make sense?  If someone else has your information, you should be able to access it.

5. Equal Service and Price.  This is a biggy!  This part of the legislation states that a company can’t discriminate against you in terms of the service you receive or the price
you pay just because you exercised your rights to protect your privacy. This clause alone is going to create some interesting effects.  Imagine if your credit score could no longer be used to determine the interest rate that you pay.  That could happen.

There is a lot more to the CCPA both in terms of to whom it applies and the penalties for not complying.  IT doesn’t go into effect until 2020, but you can be sure that you will be hearing a lot more about it before then!

This Month’s Q&A Legacy Tips

Q: Isn’t it better to just us a Safe Deposit Box at my bank?

A: This has certainly been the conventional wisdom for decades, but there are three reasons why this is no longer true.  First, you might have a difficult time finding a bank that offers safe deposit boxes.  If you do find one, it might not be for long.  There is a growing trend for banks to remove their safe deposit boxes because they are a liability, take up valuable space, and don’t generate much revenue. Second, information in a safe deposit box isn’t backed up. It is more common than one might think for contents to be damaged by water, fire, or theft. And third, safe deposit boxes are subject to government control when the owner of a box Is deceased and their heirs wish to collect the contents of the box.  The entire contents need to  be inventoried and placed into escrow and probate before being delivered to an individual.


EYE ON IT – Current Industry Trends
Phishing is up, Ransomware is down.  Microsoft recently released security report indicates that phishing attempts are up 250% in the last year while ransomware attacks dropped 34% in the same period.  Crypto-currency mining is still an issue.  This is where hackers infect your machine to use your downtime to mine crypto-currency for themselves. Your computer is infected, but it is not maliciously interfering with your use of the machine so it is hard to diagnose. 
SOFTWARE – Monthly Picks

Waze.  Google maps and Apple maps are ok, but if you want the absolute best routing, you need to use Waze.  Waze is a community-powered navigation system that runs on iphone or Android.  It uses actual data from other drivers to identify traffic jams, accidents, construction and other driving issues to route you the fastest way possible.  It will even update whle traveling if conditions change!    

Events, News, & Legislative Watch

•  LegacyArmour wins MEDA Million Dollar Challenge Award
LegacyArmour was one of the winners of the Metropolitan Economic Development Association Million Dollar Challenge for its innovation in legacy and asset protection.
•  New Senate Bill Senate bill requires explicit consent for facial recognition data collection
Senate Bill 847.  Introduced March 14th, 2019
•  6 in 10 people willing to share personal data for lower Life Insurance Rates
According to Accenture Global Financial Services Consumer Study, based on a survey of 47,000 consumers in 28 markets. More info

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