Category Archives: data privacy

Silicon Valley Experts Talk Business Costs of Data Breaches

According to experts in Silicon Valley, data breach costs break down for business like this:

  •  80% less than $1 million in direct costs and damages
  • 15 % of breaches cost between $1 million and $20 million
  • 5% cost more than $20 million to investigate, deal with and pay legal costs
  • Average Cost is $7Million 
  • Only 8% of businesses are buying cyber insurance coverage

Posted byadminPosted inbanking, data privacy, legislative trend, retail data breach

4 Student Data Principles. Supported by 32 Education Groups.

The Data Quality Campaign joined the Consortium for School Networking to set forth principles to guide student data regulation. The goal is to protect student data while doing no harm to schools. 4 points they all agree on:

  • Student data should be used to further and support student learning and success.
  • Students, families, and educators should have timely access to information collected about the student.
  • Students’ personal info…

Lege Trend: Re-defining Private Data in the Land of Lincoln

The Illinois Attorney General is working to expand the definition of what is private information that triggers data breach notifications.

She wants to include the following information:

  • email addresses
  • log-ins
  • passwords
  • Health insurance information
  •  biometric information
  • geolocation information

Her proposal doesn’t specify when the consumer and the Attorney General office must be notified. Instead,   busine…

40 Class Action Law Suits From Anthem Inc. Data Breach

Hailed as a victory for plaintiff’s lawyers, class actions are proceeding for data breaches at Target and Sony. Since the February breach at Anthem, more than 40 class action lawsuits have been filed. 

Legal experts say data breach cases move forward when the plaintiff can allege:

Preeminent Data Security Attorney Supports State Regulation over Federal Regulation. 3 Ways Business Needs Flexibility in Data Security Legislation.

Theodore Kobus III, co-leader of the Privacy and Data Security Practice at Baker Hostetler, favors state regulation over one size fits all federal regulation of data security notification. 

He suggests the right template for data security is HIPAA’s approach. HIPPA has been functioning for more than 10 years and has no uniform standard for security.

Businesses need flexibility to respond to data breaches. The flexibility is necessary based on 3 factors:

  • size of…