When companies are negotiating international deals, they often share confidential information with each other. This may include financial data, business operations or numbers of inventory. By establishing protocols to protect sensitive information and maintain trust with their suppliers and prevent leaks.
Depending on the level of risk, different protocols can be used to safeguard this information. Highly sensitive data can pose the highest risk to an individual or organization if it’s breached. It must only be handled by those who have been authorized. This includes personally identifiable information (PII) as well as confidential employee data, and board documents.
Moderate sensitivity data comprises information that there is an obligation by law to guard, however the disclosure of this kind of information can only lead to small damage to the individuals and organizations that are involved. This includes information on plans for construction, donors’ records, and data room information on IT services.
Hypersensitive files in international transactions are a growing concern for business executives. These files are the most valuable assets of the business and could be a high risk for falling into the wrong hands as they contain personal information, financial data or operating secrets. This type of information, if lost, misused or accessed illegally, could have a negative impact on the security of the nation as well as federal programs and the privacy rights that individuals have under the Privacy Act. This type of information could also be called controlled nonclassified information (CUI). To protect these files, companies must ensure that they are labeled, cataloged and stored efficiently across boundaries.