In the strongest directive yet at getting a grip on data security, the Office of Management and Budget (OMB) has stipulated that all federal agencies report a data breach or data security incident related to personal identification information within one hour of the event. Up until now, agencies knew they had to report such incidents, but various time frames were stipulated by the Federal Information Security Management Act of 2002. Even if the breach or theft isn't yet confirmed, the agencies must notify the OMB. Skeptics still think that agencies will not be reporting everything.

For more on the new federal data security mandate:
- check out this article at Government Computer News

PLUS: In the private sector, data theft is a big financial headache. Article