IIABSC has partnered with Arlington/Roe & Co., Inc. to offer members an exclusive program to help protect their agencies from data security breaches. It offers the following benefits:
- IIABSC/IIABA members only
- No encryption required
- HIPAA compliance tools
- Step-By-Step compliance procedures
- Newsletters on data security management
- Data-breach coach to help with notification
- Forensic investigators
- Privacy counsel
- Call center
- Credit restoration services
- Staff training programs
- Regulatory fines and penalties coverage
- Public Relations coverage
- Notification costs outside liability limits
- Credit monitoring
- Security & privacy liability
Responding to a data breach is a costly and complicated process requiring assistance from many different professionals. The average cost of notification-law compliance is $200,000, and failing to notify affected individuals “without unreasonable delay” could cost your agency up to $1.5 million in fines.
All that with the legal liability and the reputational harm caused by the breach, and it's not hard to understand how 80 percent of businesses that experience a data breach end up going out of business as a result.
Causes of the 563.9 million records breached since 2005:
56% Hacking or malware – Electronic entry by an outside party.
30% Portable device – Lost, discarded or stolen laptop, PDA, smartphone, portable memory device, CD, hard drive, data tape, etc.
6% Insider – Someone with legitimate access intentionally breaches information, such as an employee or contractor.
4% Unintended disclosure – Sensitive information posted publicly on a website, mishandled or sent to the wrong party via email, fax or mail.
1% Stationary device – Lost, discarded or stolen stationary electronic device such as a computer or server not designed for mobility.
1% Payment card fraud – Fraud involving debit and credit cards that is not accomplished via hacking. For example, skimming devices.
1% Physical loss – Lost, discarded or stolen non-electronic records, such as paper documents.1% Unknown/ other.