In most industries, you can contract away a responsibility or task, but not the liability of an attack or compliance expectations. This training program will examine key questions in case of a security breach. Whom will your customers hold liable? Who is going to get fined and possibly sued?
At the end of the day, your organization will suffer the negative publicity, the reputation damage, and financial loss of the attack. This program will address vendor due diligence and security to better understand the risks your organization could face while outsourcing your business needs.
Learning Objectives:
- Which of your vendors present the biggest risk
- Imperative questions you need to ask your vendors
- Documentation of security standing to gather when outsourcing your technology and/or security solutions
- The unique ongoing due diligence needs of outsourced vendors with respect to security
- Critical contract provisions
Why Should You Attend:
In 2015, AT&T was ordered to pay a $25million fine to settle three consumer privacy violations due to breach of confidential information. The breaches of consumer private information occurred at out-sourced call centers. Target paid fines not only to regulators for violations of consumer privacy laws, but also to card brands, in response to lawsuits from financial institutions, and to settle consumer class-action lawsuits.
The list of such entities goes on and on. It's not surprising that over half of organizations that are breached go out of business within 6 months following the event because of the financial devastation.
The benefits of outsourcing are attractive for many reasons, but you need to ask yourself: can you take your company's well-being and financial stability on a vendor's security? This webinar will analyze this question from various perspectives and will offer attendees an understanding of the unique ongoing due diligence needs of outsourced vendors with respect to security.
Topics
When companies outsource technology and security solutions, the question on everyone's mind is: When does our liability for a cyber-attack end and my vendor's begin? The answer is not really simple. In most industries, you can contract away a responsibility or task, but not the liability of an attack or compliance expectations.
If your business was breached today, whose name is going to be in the news? Who are your customers going to call? Who is going to get fined and possibly sued? The list of questions goes on. At the end of the day, your organization will suffer the negative publicity, the reputation damage, and financial loss of the attack.
Instructor
Rayleen M. Pirnie, CEO, RP
Payments Risk Consulting Services,
LLC.
Rayleen is the founder and owner of RP Payments Risk Consulting Services, LLC. She is a nationally recognized payments risk and fraud expert who offers specialized consulting services, procedural and risk management reviews, and payments education.
Rayleen's specialized skill is delving into the world beyond the payment rules; areas where organizations often find themselves in positions of liability or loss with little to no clear guidance. She is an Accredited ACH Professional (AAP) who has worked with all payment systems for nearly 20 years. Rayleen also holds a Bachelor's of Science in Criminal Justice Administration.
Rayleen is the founder and owner of RP Payments Risk Consulting Services, LLC. She is a nationally recognized payments risk and fraud expert who offers specialized consulting services, procedural and risk management reviews, and payments education.
Rayleen's specialized skill is delving into the world beyond the payment rules; areas where organizations often find themselves in positions of liability or loss with little to no clear guidance. She is an Accredited ACH Professional (AAP) who has worked with all payment systems for nearly 20 years. Rayleen also holds a Bachelor's of Science in Criminal Justice Administration.