Cyber Security & Data Privacy
Virtually every organization, whether it be a Family Business or a Fortune 500 Corporation, needs to understand that it possesses a trove of informational assets - information which is of critical value to its business operations and is often sensitive in nature to clients or customers. It’s exactly that sort of valuable information that has increasingly become a target of data breach threats in the modern era.
According to the Ponemon Institute’s most recent Cost of Data Breach Study, the average cost of a data breach in the United States hit an all-time high in 2017 and, on average, one out of four organizations will at some point fall victim to a breach.
The HoganWillig Cyber Security & Data Privacy team understands that every business is vulnerable to security and privacy breaches. The best way to be prepared for these breaches is through strategic partnerships with knowledgeable practitioners equipped to handle threats that could be paralyzing to your business. Our attorneys stay updated on ever-evolving data security laws, mandated privacy obligations and compliance requirements, which allows them to craft a customized guidance plan, tailored uniquely for you and your business. Following the policy we draft, your data breach response, notification and remediation tactics will be in place the moment you need them. Our team’s expertise also includes data retention versus destruction advice and courtroom experience, should the need for litigation or government investigations arise.
To safeguard your business, the HoganWillig Cyber Security & Data Privacy team has established best practices in dealing with various federal and state laws and regulations impacting the privacy and security of information, including, but not limited to:
-The Gramm-Leach-Bliley-Act (GLBA)
-The EU Privacy Directive
-The Health Insurance Portability and Accountability Act (HIPAA)
-The New York State Department of Financial Services, Cybersecurity Regulation (23 NYCRR 500)
Our Cyber Security & Data Privacy attorneys assist our wide range of firm clients with practical knowledge in several industries, including the following:
- Real Estate
- Restaurant / Hospitality
- Accounting / Wealth Management
- Health Care
Your preparation plans, remediation services and response communications are all factors that impact the cost of a data breach to your business. With the right plan in place, you can minimize legal risk on the most significant expenses commonly incurred following a breach, which include the following:
- Loss of customers
- Business disruption
- Regulatory fines
- Legal fees
- Public Relation response fees
- Breached client records
- Direct financial losses
- Notification to affected parties
- Identity repair and credit monitoring
- Civil Liability
If and when a data breach occurs, the HoganWillig Cyber Security & Data Privacy team will be available to provide breach guidance and implementation of the established response and remediation services, with maximum protection offered by the attorney-client privilege.
- Data Privacy & Security RegulationsBuffalo Business First, January 20, 2020