The Connecticut (CT) State Legislature has enacted major changes to CT Data Breach Notification Laws, effective October 1, 2021. These changes are a direct result of the worsening threat landscape, and it is safe to say that regulations will most likely continue to be enacted at both the state and federal levels.  

From January 2020 through May 2021, New York State Department of Financial Services (NYDFS) regulated companies reported in excess of 70 Ransomware attacks ranging from costly shutdowns to disruptions in business operations. Successful Ransomware attacks continue to escalate in total numbers and overall severity, with no sector safe from an attack. Government agencies, companies, educational institutions, and nonprofits are all targets. 

Ransomware and hacking is a major problem and effective cyber security is the only way to safeguard your operations and assets. The risk of not taking care of business is losing your business.

Cyber attacks are now a routine business risk, not an edge case. Recent industry reporting shows the global average cost of a data breach reached about $4.45 million dollars in 2023, a roughly 15% increase since 2020, with the United States averaging close to $9.5 million dollars per incident. At the same time, many organizations continue to underinvest in cybersecurity, often spending only a few hundred dollars a year on basic protections, while remaining attractive targets for attackers.