5 Questions Boards Should Ask About Data Privacy Risks

http://ow.ly/7jSuo

An article on Forbes.com by Eric Savitz with a guest blog post by Bob Gregg.

This article asks a series of questions regarding data privacy policies, and discusses managing information in a corporate environment.

The article states, "The average cost of a privacy data breach has now reached $214 per record, according to the Ponemon Institute."  A link is provided to the Ponemon Insitute in the article.

The article poses the following questions, and provides discussion around each:

Question 1: How much private, information do we have and how sensitive is it?

Question 2: What are the consequences if this sensitive information is compromised?

Question 3: Are we a potential target for a breach incident?

Question 4: Can we get insurance to cover some of the risk?

Question 5: Have we had an outside party assess our risk level?

The article states in conclusion, "A data breach will happen in your organization if it hasn’t already. You may think breach in an IT problem. It’s not. When a breach strikes, action must be swift but also appropriate. Having resources at the ready will protect everyone inside your organization, your reputation and your customers. And more importantly, how your organization behaves after a major breach helps determine how well you recover in the aftermath."