When businesses negotiate international agreements, they share confidential information between them. This information can include financial information about the business, company operations, or inventory figures. Implementing security protocols to protect this sensitive information can help companies maintain trust with their counterparties and ward off leaks.
Depending on the risk level the various protocols are in place to protect the data. Highly sensitive data can pose 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 data, board documents and personally identifiable information.
The publication of data that is moderately sensitive will cause minimal harm to the individuals or organizations that are involved. This includes information about building plans, donors’ records, data about intellectual properties IT service information, as also visas and other forms of travel documentation.
Business executives are becoming increasingly concerned about the security of sensitive files in international transactions. These files are considered to be the topmost assets of a company and are more prone to fall into the wrong hands because they are often containing financial information, personal data or operating secrets. If they are stolen, misused, or illegally accessed the information could compromise the security of the country and federal programs as well as the privacy rights that individuals are entitled to under the Privacy Act. This type of data can also be referred to as controlled nonclassified information (CUI). To ensure the safety of these files, companies must ensure they are properly classified and tagged, and also stored efficiently across boundaries.