Soccer/Futbol superstar, Lionel Messi, longed for a transfer after a humiliating Champions League knock out loss to Bayern Munich. Where to go from here? Paris? Manchester? Luckily, he built in a back-door exit clause in his contract where, if he notified Barcelona brass before the end of the current season, any club with a big enough wallet that was courting him could avoid paying Barcelona a $800 million transfer fee—obviously a prohibitive sum. ($800 million could actually buy you the entire Houston Astros baseball team, though this team would certainly be a fixer-upper.) This would then free up funds for Messi’s $80 million+ salary. Brilliant plan.
With so many big-name data breaches in recent times, your eyes may have glossed over the recent Equifax consumer data breach settlement. The numbers were big, 147 million consumers had their sensitive information exposed. The penalty, $700 million (or about $5 per person). Source: New York Times, Krebs.
Habits are often hard to break. Some professional offices, particularly in the health care sector, when there is a need to send something private, send by fax. Their belief is, if they send by fax, the transmission is secure and private (HIPAA compliant).
Why are you emailing your clients weblinks to documents? They’re not supposed to click on unknown links. It’s making them nervous. Even if you’re using popular apps like dropbox to share files, you can’t be sure your client will trust the link. Nor should they. They might think it’s a phishing scheme.
As consumer awareness of data privacy issues increases, companies that don’t take their clients’ data privacy seriously are getting hit harder and harder. In healthcare, a Florida healthcare provider paid a $5.5 million fine (a HIPAA record) earlier this year for allowing more than 115,000 patient records to be improperly accessed and disclosed. Last year, Ashley Madison paid almost $1.6 million to settle charges related to Federal Trade Commission (FTC) enforcement of data privacy laws, after the online “cheating” site’s virtually non-existent cybersecurity practices allowed the compromise of all its 36 million users worldwide.
Many attorneys, paralegals, HR professionals, and professional service providers steer clear of email when sending legal notices (or notices they are legally obligated to send). Some incorrectly think of email as a medium for only casual or inconsequential correspondence. The truth, however, is that email is often even better than courier or postal delivery for notices with legal implications — but only when coupled with a service that provides certified proof of electronic delivery, time of delivery, and exact message content.
Electronic signature technology is already the industry standard for executing business contracts in almost every industry. Professionals in real estate, legal services, investment management and insurance, particularly, have adopted use of this technology to transact efficiently. As e-signatures have now reached mainstream levels of adoption, where does the technology go from here?
As we discussed in a recent article, “Deciphering Large File Sharing, Sending, Storage (Part 1)”, email is not naturally well suited for sending file attachments of more than ten megabytes. One can never be sure if the recipient’s system will accept very large attachment transmissions.
From small startups to global enterprises, email is the single most critical application used by businesses and their employees today. According to a report by technology research firm Radicati Group, Inc., the number of worldwide email users reached 2.6 billion in 2015 and is expected grow to over 2.9 billion users by the end of 2019. From simple text communication and large file transmissions, to validating sensitive documents and completing revenue-generating transactions, it’s clear companies rely heavily on email for an array of business-critical activities. Not surprisingly, as email continues to expand as a means of business communication, so do the risks of threats to email security. With regulatory compliance pressures top of mind, businesses must now adhere to digital privacy laws and government mandates associated with these digital communications.
We have been asked to lay out what specifically is new with regards to the August 20 electronic signature upgrade. This provides a quick summary: