![]() Personally identifiable information, or PII for short, is in the simplest of terms any information related to an identifiable person. ![]() What does PII stand for? Definition and examples PHI conundrum, including the overlaps and differences between personally identifiable information and protected health information in terms of definition, requirements for regulatory compliance, and best practices for protection. In this article, we’re taking a deep dive into the PII vs. And in a field that’s big on acronyms, it can be a bit of a challenge to tell the most thrown-around ones apart and not to make the mistake of using them interchangeably. Of course, it’s hard to protect what you don’t even know you have. This means a growth of 13% over the last two years, with the underlying security incidents possibly contributing to the rising costs of goods and services, the findings suggest. The study reveals that the global average cost of a data breach has risen to an all-time high at $4.35 million for the entities studied. More than ever, in fact, according to IBM’s recently published Cost of a Data Breach Report. Improper safeguarding of sensitive information can cost organizations dearly in terms of time, money, and reputation. Think: people’s dates of birth, social security numbers, home and work contact information, the identity of their family members, plus passport, banking, and credit card information. The oversight left the unencrypted personally identifiable information of current and former clients up for grabs to whoever purchased the assets. More specifically, over how Morgan Stanley had failed not once but twice, in 20 respectively, to properly retire some of its older data center equipment. The class-action suit was filed against the financial services giant on behalf of about 15 million customers over the handling of their personal data. Last year, news broke that Morgan Stanley had agreed to pay $60 million to resolve a data security lawsuit by disgruntled customers.
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