Help For New Massachusetts Law (MGL) 93H 201CMR17.00
A company's data is its greatest asset. From credit card and social security numbers, to private accounts and trade secrets, if this sensitive data fell into the wrong hands it could lead to identity theft and fraud, a damaged reputation, lawsuits and more. Confusion surrounds the data protection market, according to a recent survey, 73% of IT pros said that the market for data protection solutions is confusing and 68% said that preventing data loss is more important now than it was 6 months ago. Not to mention that the cost of a data breach is in the millions. Are you taking the proper precautions to avoid a data breach?
Does your company store and/or maintain personal information about a resident of Massachusetts? If so, you need to be aware of this new regulation.
The new Massachusetts General Law (M.G.L.) Chapter 93H 201CMR17.00 requires that every person that owns or licenses personal information about a resident of the Commonwealth shall develop, implement, and maintain a comprehensive information security program that is written in one or more readily accessible parts and contains administrative, technical, and physical safeguards that are appropriate to (a) the size, scope and type of business of the person obligated to safeguard the personal information under such comprehensive information security program; (b) the amount of resources available to such person; (c) the amount of stored data; and (d) the need for security and confidentiality of both consumer and employee information.
This new law's further purpose is to:
- Ensure security and confidentiality of information consistent with industry standards
- Protect against anticipated threats or hazards to the security or integrity of information
- Protect against unauthorized access to or use of such information
This is a complicated Law from a data aspect and will require changes to existing practices. NSK Inc. is prepared to sift through the complexities and assist companies with defining and implementing these changes.
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