Cohen’s presentation will explore the legal obligations and preparedness requirements/recommendations surrounding data security. “From a preparedness point of view, you must assume a data breach will happen because every company and person is a target,” he says.
According to Cohen, a proactive commitment to best practices is one of the best ways to better protect confidential information and ensure an organization is better prepared for a data breach. Cohen will attempt to dispel the popular misconception that cybersecurity is primarily the responsibility of an organization’s IT department–and therefore simply a technological challenge. Instead, he will show how the impacts of any data breach often reach far beyond an organization’s IT department, impacting funding sources and customer/client relationships.
Cohen will also offer insight on how data security laws are evolving along with the definition of what constitutes confidential data. “We’re no longer talking about just social security numbers and dates of birth,” he says. “The legal definition of what constitutes confidential information is expanding rapidly, and the law is evolving equally quickly to require that organizations protect an ever-growing amount of information.”
Finally, Cohen will provide hands-on advice on what to do in the event a data breach does occur: being prepared, having an action plan in place, and training staff to implement it quickly and comprehensively are all critical, according to Cohen. “Dealing with the fallout of being hacked immediately becomes one of the most important issues facing management. Remember, this is not just an IT issue: a breach of ‘confidential information’ can put your company out of business,” he notes.
Cohen contributes regularly as a presenter or panelist at the ELFA’s annual Credit & Collections Management conference and other ELFA events. He will be joined at this year’s conference by co-presenter Bryan Clark, of the Chicago office of Vedder Price.
Moritt Hock & Hamroff has offices on Long Island and in Manhattan and Florida and provides a wide range of legal services to businesses, corporations, and individuals worldwide. Cohen has over 25 years of experience in all facets of the equipment leasing and asset-based lending industries. He has particular experience in cybersecurity, the documentation of financial transactions, electronic signatures, enforcement of equipment leases and secured loans, as well as the negotiation of workouts and resolutions.
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