Internet companies are urged to become more responsible for user data

Hi-tech industry representatives claimed this week that the Internet companies must be more accountable for the mass of personal data collected from users to guard against cybercrime.

"Information is the currency of growth, but it's also increasingly become the currency of crime," Peter Cullen, chief privacy strategist for Microsoft Corp, said at the Family Online Safety Institute's annual conference.

"People have very high expectations when it comes to companies in terms of how they collect, use, store and most importantly protect their information," Cullen said.

Companies must hold themselves to high standards when handling consumers' personal information and invest more in internal structures to ensure privacy, he added.

Michael Fertik, founder of the online reputation-management company ReputationDefender, called for U.S. regulations that mandate opt-in defaults to give consumers greater control of their "digital dossier."

"It's remarkable how deep the data sets are about each of us, and it's disturbing," Fertik told Reuters, citing websites that track users' locations.

Fertik said there should be limits on how long companies can keep personal data on consumers, warning that over time the data could be used beyond advertising, such as assessing health care premiums based on how often a person frequents fast food restaurants.