Are there any regulations that businesses must follow in regards to data security?

Yes, businesses in North Carolina must follow certain regulations pertaining to data security. These regulations are designed to protect consumers from potential misuse of their personal information. According to the North Carolina Department of Justice website, businesses must adhere to the Information Security Standards Act (ISSA) of 2018. This law requires businesses to develop and implement a data security program. This must include: (1) the designation of an employee responsible for data security; (2) a risk assessment on the types of personal information that is collected and stored; (3) the implementation of appropriate security measures to protect such data; (4) the training of employees in proper data security practices; and (5) the development of policies and procedures for responding to a data security breach. In addition to the ISSA, businesses must also comply with certain rules established by the Federal Trade Commission (FTC). The FTC’s Safeguards Rule requires financial institutions and their service providers to maintain reasonable security measures to protect customer information. This includes the use of encryption and other appropriate means to protect data from unauthorized access and disclosure. Failure to comply with these and other regulations can result in civil penalties. Therefore, businesses must take the necessary steps to ensure that their customers’ data is secure and protected from potential misuse. By complying with the regulations outlined by the ISSA and the FTC, businesses in North Carolina can help protect consumers and help build trust in the marketplace.

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Are there any regulations that businesses must follow in regards to data security?

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