Data Security Breaches: Growing Liability Threat

Description

Several states responded to a rash of data security breaches by enacting laws to require that private customer and employee data be protected. Over 40 states now have such laws. However, standards for what constitutes reasonable safeguards of personally identifiable information are vague and vary.

Documented data breaches affected over 285 million records in 2008 alone, damaging the reputations of companies and resulting in multimillion-dollar settlements against companies. In a time when most businesses store and transmit data electronically, the likelihood of breaches is only growing.

In light of recent developments — including data security regulations effective January 1, 2010 in Massachusetts with far-reaching national implications — businesses must prepare now to meet the data management and security challenges associated with handling personally identifiable information.

Listen as a panel of legal specialists examines recent legislative and case law developments impacting the protection of employees' and customers' sensitive personal information and other confidential data. The panel will discuss the data vulnerabilities most often seen and will offer strategies to prevent, prepare for and respond to data breaches.

Outline

1. Recent developments
   1. Massachusetts legislation effective January 1, 2010
   2. Other recent state legislation
   3. Recent litigation/case law
2. Corporate obligations before a breach
   1. Developing a “Comprehensive Information Security Program”
   2. Encryption of sensitive personal information that will be electronically transmitted
   3. Internal training on appropriate response to data breach
3. Corporate obligations after a breach
   1. Rapid notification of key company officials
   2. Investigation of the breach
   3. Rapid notification of affected individuals and state officials
   4. Considering offering credit monitoring or other services to affected individuals
   5. Documenting actions taken in response to a security breach
4. On the horizon — proposed U.S. Senate and U.S. House bills

Benefits

The panel will review these and other key questions:

• How will the new Massachusetts data security regulations affect the data practices of corporations nationwide that handle data of the state's residents?
• What proactive steps should businesses take to safeguard the sensitive personal information of customers and employees?
• What response policies should companies have in place in the event of a data breach to minimize liability for an inadvertent disclosure of sensitive personal information?
• What steps are state and the federal governments taking to help businesses safeguard the personal data of employees and customers?

CLE Credit

Strafford's live seminars qualify for CLE in every state that accredits webinars. They offer you a high quality, cost effective, and convenient CLE option, with no lost travel time or expenses.

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