When companies are negotiating international deals, they often share confidential information with one another. This information may include company financial data, business operations or the numbers of inventory. By establishing procedures to safeguard sensitive information companies can ensure trust with their counterparts and prevent leaks.
Depending on the level of risk, various methods can be used to protect this information. Highly sensitive data poses a high risk to an individual or an organization when it is compromised and must be restricted to only those authorized to handle it. This includes personally identifiable information (PII) and confidential employee data, and board documents.
The disclosure of moderately sensitive data will only cause minor harm to the individuals or organizations affected. This includes information about plans for construction, donors’ records, as well as information about IT services.
Business executives are increasingly concerned about the security of sensitive files in international transactions. These files are regarded as the crown jewels of a company and pose a heightened risk to be accessed by criminals since they typically contain financial information such as personal data, financial information or operating secrets. This type of data, if lost, misused, or illegally accessed can affect the security of the nation and federal programs, as home well as the privacy rights of individuals under the Privacy Act. This type of information could also be referred to as controlled nonclassified information (CUI). To protect these files, companies must ensure that they are properly labeled, cataloged and stored effectively across boundaries.