Business Blog
Companies warned about consequences of loose use of consumers’ confidential data
Who’s privy to some of a person’s most sensitive information? A healthcare provider? A member of the clergy? Their Mom? There’s someone else to add to that list: the company that prepares their taxes. The FTC is using its Penalty Offense Authority to put five tax preparation companies on notice that they could face civil penalties if they misuse consumers’ confidential data. Not in the tax prep business? Not so fast. The Notice of Penalty Offenses Concerning Misuse of Information Collected in Confidential Contexts restates long-standing legal principles every business should keep in mind.
