Defend Against Data Security Risks in Residential Transactions
The Title Report
January 10, 2011
This article discusses the significant risks for businesses that handle personally identifiable information (PII) from buyers and sellers involved in residential purchases and other real estate transactions. The authors discuss the risks inherent in the collection and use of PII and credit information, specifically if this information is inadvertently disclosed or vulnerable to misuse by hackers or rogue employees. The authors outline the legal obligations that business face, as well as the consequences of not taking privacy and security obligations seriously.