The NY State SHIELD Act: Things California Businesses Must Know
It’s no secret. Cybersecurity is necessary for any business owner who wishes to remain safely in operation for the long-term. Therefore, finding the best ways to safeguard the information of your customers is vital. For businesses located in New York, complying with the NY State SHIELD (Stop Hacks and Improve Electronic Data Security) Act is one of the best ways to protect your company and your customers’ information. With that in mind, here are some things you need to know about the NY State SHIELD Act.
One of the first things you must know about the NY State SHIELD Act is that it is a relatively new act. It was implemented on March 21, 2020, which was around the time when many businesses and organizations were shut down to reduce the spread of COVID-19. This means that many businesses are now playing catch-up and taking the steps needed to be fully in compliance with this act. Also, there may not be many resources available to those seeking to find out more about the act and the best methods of complying with the act.
Details About the NY State SHIELD Act
If you are running a business in New York, you are responsible for protecting your customers’ private information. The SHIELD Act requires any individual or business that owns or licenses computerized data that includes the private data of any resident of New York to implement and maintain appropriate safeguards to protect the security, confidentiality, and integrity of the private information.
Although the act was created for the state of New York, it applies to every individual, company, and organization that does business with residents of New York state. Yes, even those who are located outside of the state.
Are You in Compliance With the NY State SHIELD Act?
Simply knowing what the act entails does not help you ensure that you comply with it. However, here are some quick tips to let you know whether you are on the right track:
This applies to small businesses with no more than 50 employees or made less than three million dollars for the past three fiscal years. To get in compliance with the SHIELD Act, you must take reasonable, administrative, technical, and physical safeguards to help protect the private data of your customers.
This applies to companies with over 50 employees or those that have made over three million dollars for the past three fiscal years. Not only must you take the above steps listed for small businesses, but you must also take additional precautions. In particular, they must hire the right IT service company that understands all the rules of the SHIELD Act and who can ensure that they have optimal protection for their customers.
Not only is complying important to protect your customers, but it can also prevent you from paying up to $5000 in fines. Either way, if you need more help or information about the New York State SHIELD Act, be sure to contact the experts at GenIX.
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