5 Federal and State Information Security Laws That May Affect Your Ft. Myers Business

Identity theft and information fraud are no joke. They are valid concerns that many consumers and businesses have. 

When it comes to protecting your business and consumers, security is vital. For any of you Ft. Myers businesses out there, nothing is as important as knowing the state and federal information security laws that are relevant to your operation.

Following these laws will help you to protect your consumers. Additionally, it will keep important employee and business information safe and keep your business defended against liability and legal issues.

FACTA 

The Fair and Accurate Credit Transaction Act (FACTA) requires that any business that possesses personal consumer information must protect said information from theft and fraud. 

Additionally, the Disposal Rule written by the Federal Trade Commission (FTC) states that businesses must dispose of consumer information responsibly and securely. This may apply to your business directly; however, when you make purchases for your business from another company, your information is also secure under FACTA. 

HIPAA 

The Health Insurance Portability and Accountability Act (HIPAA) pertains to the national standards for the protection of healthcare information. 

This act was established in 1996 and requires that all healthcare providers keep personal healthcare information confidential until it is destroyed. Organizations that transmit personal healthcare information must comply with the HIPAA.

GLBA 

The Gramm-Leach-Bliley Act (GLBA) requires the protection and confidentiality of personal financial information. Banks, credit unions, mortgage companies, and investment firms are among the many businesses that must practice GLBA compliance. 

Violation of the GLBA can result in high fines and other severe consequences. For small businesses, financial information is especially important. 

Protecting your financial information is essential, and that’s why the GLBA can also help protect your business. With the GLBA, any financial information about your business is secure, and any breaches of this act will hold the responsible party accountable. 

Red Flags Rule 

The Red Flags Rule was created by the FTC and the National Credit Union Administration (NCUA). It outlines and helps identify the “red flags” that indicate the occurrence of identity theft.

This rule will help keep your business safe by protecting your employees from identity theft. 

FIPA 

The Florida Information Protection Act (FIPA) of 2014 amended Florida’s breach notification statute. FIPA was signed into law on July 1, 2014. 

FIPA protects personal information by requiring that any company who has possession of such information takes measures to safeguard this information. In the event of a data breach, the business must report it promptly. 

Use ShredQuick to Comply With Security Laws

To stay in compliance with the security laws that help protect both your business and consumers, call ShredQuick for secure information disposal.