2014 in Review: What to Know About Privacy and SecurityCompliance Today April 2015
Adam C. Solander, Member of the Firm, and Evan J. Nagler, Associate, in the Health Care and Life Sciences practice, in the firm’s Washington, DC, office, authored an article in Compliance Today, titled “2014 in Review: What to Know About Privacy and Security.”
Following is an excerpt (see below for a PDF of the full article):
Attacks on information security systems are on the rise and, as healthcare organizations are learning, the health sphere is not immune. As several highly publicized, recent events have shown, protecting the privacy and security of sensitive data from breach has never been as important as it is today. Consequences are significant: Businesses that suffer breaches could face reputational harm, lawsuits, government enforcement actions, and costly remediation efforts. Companies must understand their specific data security risks, so they may take appropriate steps to protect themselves from breaches.
In many respects, 2014 was a banner year for security breach enforcement. Federal and state enforcement actions rose in number and set record highs for monetary fines and penalties. Private action rose as well, as a number of private lawsuits over hacking and security breach issues were filed in 2014. In light of the heightened enforcement climate, it is critical that companies understand the risks facing them and take action to limit their exposure.