SAN DIEGO, CALIFORNIA – Klinedinst’s Privacy and Data Security Group has launched BreachNotices.com, a new tool to help businesses identify procedures for notification when a privacy breach occurs.
Security incidents are growing at an alarming pace. Security Magazine estimates that there are 2,200 cyber attacks per day, with a cyber attack happening every 39 seconds. In its recent “Cost of a Data Breach Report 2023,” IBM estimated the global average cost of a data breach in 2023 was $4.45 million. Cybercrime is estimated to cost $9.5 trillion in 2024, and the cost to businesses is growing exponentially.
When subjected to a data breach, businesses are responsible for security incident reporting that is compliant with both State and Federal laws. Notice requirements vary by state, and generally can include impacted organizations, law enforcement, customers, consumers, businesses and government officials (Attorneys Generals).
Reporting can include details about the incident, such as when it happened, what happened, who was impacted, the scope of the breach, and any remediation plan. There are federal requirements for reporting, and every state has its own requirements for reporting, depending on the industry impacted.
“Cyber breaches are becoming more and more commonplace, but the response to these incidents is becoming more complicated,” said James D. Snyder, who chairs the Klinedinst Privacy and Data Security Group. “Businesses, regardless of size, have become stewards of incredible amounts of data, meaning they often become targets of cyber criminals. More states are treating that data as a valuable commodity to be held and protected, and companies need to stay ahead of the regulatory curve to avoid being penalized when a breach occurs. Helping businesses stay informed of their responsibilities was the genesis behind the creation of BreachNotices.com.”
State and Federal penalties for failure to timely issue required notices can be extreme. Further, businesses handling customer data can have significant brand damage if they fail to act quickly in these unfortunate incidents. The Klinedinst Data Breach Notification search tool that links to all 50 states’ security incident reporting requirements is available at:
Klinedinst’s Privacy and Data Security team helps clients across a broad range of industries throughout the US and internationally, to proactively prepare for these problems before they occur. Our attorneys also provide effective cybersecurity incident response solutions, should the worst happen. Our holistic approach to compliance and security is designed to ensure our client’s business values are preserved and protected in the event of a security incident. Feel free to contact our offices today for more information or for assistance with data privacy or security incident reporting or planning.
About Klinedinst
Klinedinst PC is the go-to firm for clients looking for litigation and trial experience, sophisticated transactional advice, and other solution-oriented legal counsel. Providing legal services across the West, our attorneys are dedicated to fostering trusted relationships with each and every client, to help them achieve their individual goals and objectives. Klinedinst lawyers strive to serve as true business partners, always at the ready to address the legal challenges that businesses are confronted with every day. Whether in court, at the board meeting, or otherwise, KPC is the trusted legal advisor to have by your side.