When international companies negotiate deals, they share confidential information between them. This information can include financial information about the company, business operations or the numbers of inventory. By implementing protocols to safeguard sensitive information and maintain confidence with their partners and avoid leaks.
Depending on the level of risk, different protocols can be used to safeguard this information. Highly sensitive data can pose the risk of a significant loss for an individual or organization if it is breached and should be restricted to those authorized to handle it. This includes confidential employee data, board documents and personally identifiable information.
Moderate sensitivity data comprises information that there is a legal obligation to protect but the publication of this type of information can only cause minor harm to the individuals and organizations that are involved. This includes information about building plans, donors’ records, and information on IT services.
Business executives are increasingly concerned about sensitive files in international transactions. These files are the most valuable assets of the company and can be at risk of being misused because they contain personal information, financial data or operating secrets. This type of information if stolen, mishandled or accessed in a way that is illegal, can affect the security of the nation and federal programs as well as the privacy rights of individuals under the Privacy Act. This kind of information is also known as controlled non-classified information (CUI). To protect these files, businesses must ensure that they are properly classified, tagged and stored efficiently across boundaries.