Even with the tightest security, best practices and policies, data attacks occur everyday. Loss or theft of data can hurt your bottom line in more ways than one. Not only does it result in loss of consumer confidence, it can also expose you to litigation risk.
That’s why it’s critical to understand exactly what data or security breach regulations are applicable to your business and how prepared you are to respond to them.
At the very least, all employees and contractors should understand that they must immediately report any loss or theft of information to the appropriate company officer.
And because data privacy and breach laws can be very broad and strict, no loss should be ignored. So even if you have sensitive data that just can’t be accounted for, such as an employee who doesn’t remember where he left a backup tape, it may still constitute a data breach and you should act accordingly.
Here are resources to help you determine applicable laws and how to adhere to them.