The monetary effects of identify theft approaches upwards of fifty billion dollars, as some... annually are in some way touched by fraudulent claims.
When it comes to sharepoint compliance it organizations are at risk of regulatory mis-management of data with the potential for staggering financial loss as well as lawsuits and loss of reputation.
As such, users of SharePoint are always concerned with compliance guidelines, whether they are in the healthcare, public-sector or retail sector.
Keeping a lid on sensitive employee and patient data, for example, is the ongoing concern of any IT department.
The payment card industry set standards (PCI) to make sure customer data was secure in the network and in the cloud.
Disclosing the wrong information can by itself bring on fines of up to $50,000, as well as up to a year in prison---it’s $100,000 when ‘false pretense’ is used...and up to five years in prison.
Just where does the really sensitive information reside in SharePoint? It starts with the Contact List, and document users must make sure they are not ‘trapping’ such info within the document by mistake.
Other reference points include performance evaluations and personnel records; any direct-deposit data; resumes and emergency contact profiles.
The solution? One is to simply keep such data out of SharePoint entirely. Another is to encrypt this information.