‘Reasonable security’: A moving target

Elizabeth E. Mcginn, James Shreve and Margo H. K. Tank

Cyber Security: A Peer-Reviewed Journal, 2018, vol. 2, issue 1, 90-97

Abstract: ‘Reasonable security’ for companies charged with protecting customer and employee data has evolved over the last 20 years. Previously, financial institutions had broader latitude on how to safeguard and adequately protect personally identifiable information (PII) under federal and state data protection laws. Today, legal and regulatory requirements and expectations regarding information data security controls are not only more prescriptive but continue to evolve as technology and those who seek to gain unauthorised access to personal information become more sophisticated. The number of governmental entities involved in information security is also increasing in the US. No longer the exclusive domain of federal regulatory agencies, state legislatures and regulators and attorneys general are issuing requirements, providing guidance and enforcing state laws to ensure that companies employ ‘reasonable security’ when collecting, handling, storing, transferring and disposing PII.

Keywords: reasonable security; GLBA; FTC; safeguards; personally identifiable information; PII; specificity; cyber security; data security; information security (search for similar items in EconPapers)
JEL-codes: M15 (search for similar items in EconPapers)
Date: 2018
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