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Civil engineering works well because we mostly figured it out anyway. But looking at PCI, SOX and others, we'd probably just require people to produce a book's worth of documentation and audit trail that comes with their broken software.
We had two security teams. Security and compliance. It was not possible to be secure and compliant, so the compliance team had to document every deviance from the IRS standard and document why, then self-report us and the customer to audit the areas where we were outside the lines. That took a dozen people almost a year to do.
All of that existed because a US state (S Carolina iirc) was egregiously incompetent and ended up getting breached. Congress “did something” about it.
They all update their recommendation and standards routinely, and do a reasonably good job at being professional organizations.
The current state of this as regards to the tech sector doesn't mean its impossible to implement.
Thats why all the usual standards (PCI, SOC2 in particular) are performative in practice. There's nothing that holds industry accountable to be better and there is nothing, from a legal stand point, that backs up members of the association if they flag an entity or individual for what would be effectively malpractice.
Anyways, I’m not the one who should be deciding the specifics here, it should be a collaboration between lots of different parties, even if I may have a seat at that table. But we have got to get away from the notion (as seen in other comments in this thread) that any sort of attempt to prevent this kind of harm before it happens is authoritarianism.
I do imagine a technical organization that strives to do its best and would have sufficient scope to protect its members legally if need be, so members would be empowered to make the best decisions possible.