One of the greatest worries for any firm, more so a legal one, is a data breach. Studies have shown that in the last two and a half years more than 200 million records have been breached.
Not only does the firm suffer a loss but it is also obliged to make the data breach known to the respective customer, which normally takes about a month to happen, and can be pretty damaging.
It is, therefore, of vital importance for a firm to plan how it is going to protect all sensitive data and what measures it will take in the case of an incident such as a data breach occurring.
First of all be very sure about the law, both Federal and local. Very often, laws are changed, added to, or modified. If dealing with an interstate or international case of a data breach, you will have to be fully aware of all the laws of all the places involved, even the seemingly unimportant ones. Different states have different definitions of what constitutes a breach of confidence or data loss. Others have different laws with regard to the hierarchy for notifying the various people/organizations affected by it.
[Read more →]