What are the FTC fines for non-compliance?
A. While the FTC can impose fines of up to $10,000 per day for failure to comply with required regulations; the real danger to a small business is in the event of a civil lawsuit filed as a result of a client’s loss of confidential information resulting in “identity theft.” A plaintiff’s lawyer might have an easier time in constructing a case if the business didn’t take reasonable measures to protect the client’s information.
