News of data breaches was once relegated to IT-related websites and specialty blogs. It now peppers the headlines of every major news outlet. The recent Target breach has even led to a movie deal.
Against this backdrop, the concerns arising from a data breach can be many: a storm of negative press, huge disruptions in operations as a company reacts to and remediates the breach, as well as the looming threat of breach-related litigation. Added to those concerns is the possibility of Federal Trade Commission scrutiny and action. Yet, the FTC has no specific statutory or regulatory guidelines for data security. Rather, it has based its numerous enforcement actions on a broad reading of Section 5(a) of the FTC Act, which prohibits “unfair or deceptive acts or practices in or affecting commerce.” 15 U.S.C. §45.
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