Ashford University Legal Compliance Paper Question
As a CIO, you will be responsible for your company’s compliance with certain federal laws. Additionally, there may be several industry-regulated standards or guidelines that your company may voluntarily follow which may add security and/or social benefit to the management of your company’s data. In this scenario, you are the CIO of a publicly-traded American corporation that provides health care consulting to families who are seeking international medical treatment for their children. The company automatically charges its customers on a monthly basis from their credit card, debit card, or bank account using personal financial data that the company stores and manages. For this assignment, you will analyze federal laws as well as a voluntary, industry-based set of standards that pertain to data management. Select a minimum of three federal laws and one voluntary-based set of standards and include the elements below. For this assignment, you do not need to consider the implications of any state specific laws.
- Provide a brief overview of each federal law and the voluntary industry-based standard.
- Analyze legal issues regarding data management and describe how the company must comply with each federal law and the voluntary, industry-based standard.
- Explain the legal and/or financial consequences to the company for non-compliance of each federal law and the voluntary industry-based standard.