As information has become an increasingly valuable commodity for all businesses, it has also become extremely valuable for hackers and criminal organizations. The tools that the bad actors are using to gain access to our systems and information are outpacing our technological advances. Regardless of the level of sophistication of the information technology infrastructure, organizations are only as strong as their weakest link, which are quite often their people.
The potential costs and liabilities for businesses stem from the fact that 47 states have laws in place to dictate how businesses must respond in the event that Personal Identifiable Information (PII) has been compromised. These laws differ from state to state in terms of what is considered PII, what constitutes a breach, and what the company’s obligations may be as the disclosing party. Jurisdiction for these matters is based on where the individuals whose information has been compromised reside; where the business is domiciled has no impact on these matters.
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