"Each piece of personal information that is subject to the breach can lead to damages of between $150 and $750 per breach," Sean Nalty, a partner at Ogletree, Deakins, Nash, Smoak & Stewart in San Francisco, said. "It is important that companies make sure their culture and standards are focused on data privacy protections."
This is a day to raise awareness, foster dialogue, and empower companies to act to ensure proper privacy (and security) of all types of data and information.
Wire transfer fraud is a major threat. Understanding the risk highlights the importance of social engineering training for companies and their employees.