Robert S. Cohen, partner at Moritt Hock & Hamroff LLP and noted speaker on cybersecurity and the law, will lead a session at the Equipment Leasing and Finance Association (ELFA) Credit & Collections Management Conference in St. Petersburg, FL. Cohen’s presentation, “Data Breach, Data Security, and Dangerous Collection Activities,” will begin at 9:15 a.m. on June 5.
Cohen’s presentation will explore the legal obligations and preparedness requirements and 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 said.
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 said. “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. “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 noted.
Cohen contributes regularly as a presenter or panelist at the ELFA’s annual Credit & Collections Management conference and other ELFA events. This year’s conference is expected to attract a broad spectrum of credit and collections professionals and address a wide array of topics. With cybersecurity a prominent and growing area of focus within the financial services industry, Cohen’s presentation will provide invaluable insight for lenders, loan officers or anyone involved in management of confidential information at financial institutions.
Cohen will be joined on the panel by co-presenter Bryan Clark, of the Chicago office of Vedder Price P.C.