International transactions involving hypersensitive files are certainly a rising concern for executive. These sensitive data files — the crown jewels for an organization — have a heightened risk of falling into the incorrect hands because they usually contain personal information, financial data, or trade secrets. This type of data, whether it’s lost and/or misused or accessible, can be detrimental to the country’s security, federal programs, and the privacy of individuals under the Privacy Act. Check out controlled non-classified information (CUI).
The information is classified as moderately sensitive. While there is a legal requirement to protect this kind of information, it could only cause minor harm to the individuals and organisations involved. This includes information about building plans donor records, as well as information about intellectual property, IT service information and visa and other travel documents. Internationally operating businesses need to identify and classify what information is covered by HIPAA’s PHI regulations, GDPR’s regulations on PI, LGPD’s NY SHIELD, CCPA and more and ensure that it is stored in a timely manner across borders.
To ensure that sensitive files are secure, companies should implement a variety of best practices, including tagging, cataloging, and disaster recovery both on and off site and monitor for any signs of potential issues. A digital data room application is a way to do this. This software allows businesses to store and share documents in a cloud-based, secure environment.