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"A breach of 1500 client files with personal information can cost an excess of $300,000 in notification, resolution and legal costs."

"According to the ID Theft Resource Center data breaches are up 47% from 2008"

"71% of businesses surveyed say their organization does not have an accurate inventory of where personal data for employees and customers is stored."
Price Waterhouse Coopers 2008 Global State of Information Security Study

Key Terms

Data Breach

Occurs when there is unauthorized access to company data including personal and financial information such as Names, Addresses, Social Security Numbers, Bank Account Numbers, Employer information, Medical Insurance and Credit Card Numbers.

Fraud

An act of deception carried out for the purpose of unfair, and or unlawful gain, especially financial gain.

Security Breach Notification Laws

44 states have passed laws that require the notification of individuals where a security breach presents a reasonable risk of identity theft.

Notification Letter

A notification to an individual that has been affected by a data breach.

Red Flags Rule

A law the FTC will begin to enforce in August of 2009 requires certain businesses and organizations including doctors offices, hospitals, finance companies, auto dealers, mortgage brokers, utilities, telecommunication companies, etc to develop a written program to spot the warning signs of identity theft.

Firewall

A security system that protects individual computers or networks from intruders.

Hacker

One who gains unauthorized access to a computer system for the purpose of stealing and corrupting data.

Password

A secret series of characters that enables a user to access a computer and helps ensure that unauthorized users do not access the computer.

Personal Identifiable Information

Any piece of information that can uniquely identify a single person such as name, address, social security number and date of birth, driver’s license number, passport number.