The Brian Gongol Show on WHO Radio
Brian Gongol

Criminals strike again, stealing information on an uncertain number of credit cards from a third-party processing firm. MasterCard says more than a hundred thousand of its customers are at high risk for fraud as a result, and the total number of all cards exposed could be as high as 40 million.

The world freaks out, and it's not a day before people (including some at MasterCard itself) are already calling for more government regulation to keep it from happening again.

But what if more regulation would actually make the problem worse?

Is there a better way to prevent crime like this?

Here are some answers:

Could more regulation actually make the problem worse? Possibly: Is there a better way? Perhaps: The bottom line is that we don't always need more regulation to solve our problems -- sometimes we just need to re-think how we're doing things.

Besides, isn't it a little naive to think that regulation can keep up with the pace of these crimes, anyway? Do you really think Sen. Ted Kennedy is reading Information Week? Is Sen. Bill Frist perusing Slashdot? Hardly. In fact, the government itself has been known to break the law regarding information privacy, and the Pentagon's own websites have been hacked. Just because it's government doesn't mean it's flawless.