By now, all tax preparers must know that the WISP is a requirement by law. However, how many tax pro know of the potential penalties for violations? Read what the NYS SHIELD Act says;

What are the penalties for violations of the SHIELD Act?

Under the SHIELD Act, the Attorney General may seek injunctive relief, restitution, and penalties against any business entity for violating the law. For failure to provide timely notification, the court may impose a civil penalty of up to $20 per instance of failed notification, not to exceed $250,000. For failure to maintain reasonable safeguards, the court may impose a civil penalty of up to $5,000 per violation. https://ag.ny.gov/resources/organizations/data-breach-reporting/shield-act

Get your WISP today. Make sure the one you have is comprehensive and has a robust turn-key communication/notification plan. #efficientadvice #efficientadvicellc #WISP #DataSecurityPlan https://www.efficientadvice.com/wisp

ag.ny.gov

SHIELD Act

Stop Hacks and Improve Electronic Data Security Act (SHIELD Act) What is the significance of this law? The SHIELD Act, signed into law on July 25, 2019, by