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When businesses negotiate international agreements they may share confidential information between them. This can include financial information about the company, business operations or numbers of inventory. By implementing security protocols to protect sensitive information companies can ensure confidence with their partners and prevent leaks.
Depending on the level of risk, various protocols can be used to protect this information. Highly sensitive data poses the risk of a significant loss to an individual or a business in the event of a breach and must be restricted to only the authorized personnel to handle it. This includes confidential employee information as well as board documents and personally identifiable information.
The publication of data that is moderately sensitive can cause only minor harm to the people or organizations that are involved. This includes information about plans for building, donors’ documents and information regarding IT services.
Business executives are increasingly worried about the sensitive nature of files used in international transactions. These files are regarded as the crown jewels of a company and are more prone to get into the wrong hands because they are often containing financial information and personal data as well as operating secrets. This type of information, when lost, misused, or illegally accessed can affect the security of the nation, federal programs, and the privacy rights of individuals under the Privacy Act. This type of information is also known as controlled non-classified information (CUI). To protect these files, companies must ensure that they are properly tagged and cataloged, and that they are stored in a timely manner across borders.
