Resources for Federal Financial Institutions Examination Council (FFIEC)

By addressing data privacy, companies avoid public scrutiny

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There is a huge misconception among information security professionals today that data privacy laws are not applicable to private companies, but are only designed for publicly traded companies, government organizations or financial institutions. This is not the case. Whether your company is public or private, large or small, today's information privacy regulations may affect you and your organization on many different levels, not just financially and legally.Failing to integrate good security practices within a private organization can affect a company's bottom line, customer retention, business reputation and employee morale. In fact, there are dozens of privacy laws pertinent to all types of companies and more are on the way. These issues cover all facets of the information security landscape where governments and individuals are insisting on accountability from private corporations to control their data.

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