Publications

Seven More States Implement Data Breach Reporting Statutes
01/30/2007

The costs and legal issues resulting from the loss of customer personal information continue to grow. Data security breaches can occur from criminal hacking or something as mundane as a lost laptop computer. According to a recent study of 31 companies that experienced a data breach, the cost from each event ranged from less than $1 million to more than $22 million, not including costs in terms of lost customers, public relations problems, lawsuits, and the like. Data spills are generally irreversible and their effects indeterminate. Thus, data security is becoming a top priority for businesses and consumers. Indeed, the number of states enacting data security statutes continues to grow. On January 1, 2007, the following seven states joined twenty-seven other states in enacting data breach notification statutes: (i) Arizona; (ii) Hawaii; (iii) Kansas; (iv) Nebraska; (v) New Hampshire; (vi) Utah; and (vii) Vermont.


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