Health Insurance and Portability and Accountability Act
During the Heartbleed epidemic, Franklin, TN-based Community Health Systems had 4.5 million of its patients’ personal information stolen. Not only was this the largest Health Insurance and Portability and Accountability Act (HIPAA) breach of 2014 but also the second largest HIPAA breach ever.
The CEO and former CFO of a computer equipment company, which went bankrupt in 2009, were charged with violating the Sarbanes-Oxley (SOX) Act. The CFO hid the fact that the company didn’t have adequate inventory controls and manipulated accounting records in order to increase the amount of money the company could borrow.
National Credit Union Administration
During a National Credit Union Administration (NCUA) examination of Palm Springs Federal Credit Union, an unencrypted flash drive containing credit union members’ personal data went missing. The NCUA later announced that the drive was lost due to the investigator himself failing to follow NCUA’s policies for protecting sensitive data.
To read more about how to cope with regulatory pressures, read our post “Compliance Concerns Are Rising — Here's What You Can Do About It.”