White Papers for Sarbanes-Oxley (SOX)

Identity Theft and US Data Protection Legislation

Guardian Edge

As organizations increase their use of personal electronic records, identity theft and the misuse of personally identifiable information are reaching epidemic proportions. Congress estimates that nearly 10 million people were victims of identity theft in 2004 alone1. As a result, lawmakers around the country have responded with a series of measures designed for the protection and privacy of personally identifiable information.
These measures have radically increased the risk of using personal electronic records, placing a heavy emphasis on the responsibility of organizations that use sensitive data to prevent security breaches and to notify affected individuals when breaches do occur.Achieving compliance with these rules can be a complex and costly procedure; on the other hand, the cost of non-compliance can mean fines or even jail time2.
Encryption is the best and only true way to protect sensitive personal information and other mission-critical data from loss or theft. In one bill after another, encryption is being identified by lawmakers and industry experts as an essential, underlying technology that can provide a “safe harbor” in the event of a security breach.
This white paper provides an overview of current and pending legislation that affects data protection and privacy, outlining the requirements set forth by each and identifying how encryption can help organizations to achieve compliance with these initiatives.

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