Is Your Data Protected? A Look at Cybersecurity Regulations in the US and EU
Stephen Shine, Chief Regulatory Counsel, Prudential Financial, USA
Renee Wilson, Paralegal, Prudential Financial, USA
In recent years, cybersecurity has become one of the largest issues facing senior management and boards of directors in regulated industries. As technology progresses and the sophistication of hackers has grown, companies must increase measures to protect client data and initiate preventative measures to thwart cyber-attacks. Cyber-attacks, which tend to be more directed and intentional, are not the only technological issues companies face. Many companies also face issues of data breaches, which can be broader than cyber-attacks and often occur accidentally. Available evidence indicates that data breaches have occurred in approximately eighty to ninety percent of Fortune 500 companies and government agencies in the United States. From January 2005 through 2010, these data breaches have caused over 350 million records containing sensitive personal information to be compromised.
Read full paper
Subscribe to the IICJ