What Is The New York State SHIELD Act?
If you are doing business with residents of New York State, you need to be compliant with the New York State SHIELD Act. In this video, we discuss what the New York State SHIELD Act requires and how you can meet its standards in your business.
As of March 21, 2020 all businesses owning or licensing data that contains the private information of residents of New York state must be compliant with the New York State SHIELD Act. This act was created so that businesses would use reasonable safeguards that protect the information of New York’s citizens. This is not solely limited to companies in New York, but also ones outside of the state who are still working with residents.
Below are the terms of compliance for the New York State SHIELD Act:
- Small businesses with less than 50 employees or less than three million dollars in annual revenue in each of the past three fiscal years must take reasonable, administrative, technical, and physical safeguards to protect resident’s data.
- Businesses with over 50 employees or more than three million dollars in annual revenue in each of the past three fiscal years have higher standards to meet, and are subject to a $5,000 per violation fine if not compliant.
The best way to determine if you are meeting the New York State SHIELD Act’s standards is by consulting with an outsourced IT company. At Network Outsource, we are able to help with all your business needs, including compliance. Feel free to reach out to us online or by phone to talk about your company’s IT needs.
