X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

In a prior column, we discussed the inevitability of technology-related accidents occurring at virtually every company. One particularly common mishap is the loss of customer, client or employee data. These data breaches may present a substantial problem for organizations, as the number of discrete records lost often runs into the hundreds, thousands or millions. Even if there is no evidence of actual misuse of the lost data, the costs to provide legally required notice, together with the potential cost of mitigation efforts such as providing credit monitoring, quickly mount. If the breach is sufficiently serious to interest regulators such as the Federal Trade Commission or a state’s attorney general, then costs associated with investigation, defense and, potentially, future mandatory compliance and fines further add to the data loss burden.

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2017 ALM Media Properties, LLC. All Rights Reserved.