Financial Services Modernization Act of 1999
Notes from handout discussion:
Other notes:
What is encryption? What is the good and the bad consequences of having access to encryption? Encryption is good when you are using it but bad when someone else is.
Distributed systems over public networks. Extranets rely on encryption. An Extranet is what is created when you connect two Intranets over the Internet.
Complex problem and issues.
Example: Many products you download over the Internet have "40 bit Standard Encryption" and "128 bit Strong Encryption" (strong encryption available in US and Canada only)
What is strong encryption? (128 bit key length) Longer key length means it takes a longer time to break the code.
What are key recovery encryption schemes? Keys are held in escro by a trusted third party. Who do you trust?
Goals: Promotes commerce, supports law enforcement and national security, and protects privacy. Sometimes at odds.
Those responsible for law enforcement should be able to eavesdrop on communications that support criminal activity.
Export policy on strong encryption: Was,
U.S. companies are restricted from exporting any encryption with a key length over 40-bits.
56-bit encryption may be shipped overseas as long as vendors agree to "backdoor key recovery,"
128-bit encryption allowed for some industries like banking
Foreign companies can sell what ever they want. "foreign companies are not just eating our lunch, but all three meals..." --Senator Ron Wyden.
Now,
S/W companies can export strong encryption for key industries without having a provision for key recovery
Can export 56-bit encryption without key recovery provisions
Issues followed by corporate community and the privacy community.
Communications Assistance for Law Enforcement Act (CALEA) (1994) - attempt to restore ability to intercept communications in the digital age. CALEA requires telephone firms to make it easy to wiretap the nation's communication system. Deadline extended until year 2000.
Privacy Act of 1974 - protects records held by U.S. Government agencies, allows disclosure of personal information for "routine use" compatible with the purpose for which it was originally collected.
Intel Pentium III and processor serial numbers.
Internet Worm, 1988 -
IP Logging - Every web site can log the IP address of the computer you are using. Some day you may enter your name or other personal information at a web site. This could tie you to your IP address.
"Enemy of the State" Comparison Points