Prior to beginning work on this assignment read Chapters 4 and 5 from the course text and review any relevant information from this week’s lecture. Review the instructions below and research at least three additional scholarly sources and a minimum of one credible professional sources to support your statements.
As a CIO, you will be responsible for your company’s compliance with certain federal laws. Additionally, there may be several industry-regulated standards or guidelines that your company may voluntarily follow which may add security and/or social benefit to the management of your company’s data. In this scenario, you are the CIO of a publicly-traded American corporation that provides health care consulting to families who are seeking international medical treatment for their children. The company automatically charges its customers on a monthly basis from their credit card, debit card, or bank account using personal financial data that the company stores and manages. For this assignment, you will analyze federal laws as well as a voluntary, industry-based set of standards that pertain to data management. Select a minimum of three federal laws and one voluntary-based set of standards and include the elements below. I chose the 3 federal laws below. I don’t care which voluntary-based set of standards you select.
1. Health Insurance Portability and Accountability Act (HIPAA)
2. Children’s Online Privacy Protection Act (1998)
3. Fair and Accurate Credit Transactions Act (2003)
For this assignment, you do not need to consider the implications of any state specific laws.
· Provide a brief overview of each federal law and the voluntary industry-based standard.
· Analyze legal issues regarding data management and describe how the company must comply with each federal law and the voluntary, industry-based standard.
· Explain the legal and/or financial consequences to the company for non-compliance of each federal law and the voluntary industry-based standard.
The Federal Compliance paper
· Must be six to nine double-spaced pages (1800-2700 words) in length (not including title and references pages) and formatted according to APA style as outlined in the Ashford Writing Center (Links to an external site.).
Make sure you add reference that support the data.