Financial Information Breach definition
Financial Information Breach means the unauthorized access and acquisition of Financial Information that compromises the security, confidentiality, or integrity of Financial Information and that actually or reasonably may cause identity theft to the individual to whom the Financial Information relates, but good faith acquisition of Financial Information by an employee or agent of Business Associate for the purposes of Business Associate is not a Financial Information Breach, provided that the Financial Information is not used for or is not subject to further unauthorized disclosure
Examples of Financial Information Breach in a sentence
Without limiting its obligations under applicable law, Business Associate will notify Plan Sponsor in writing of the discovery of any Financial Information Breach.
Business Associate agrees to conduct in good faith a reasonable and prompt investigation to determine the likelihood that Financial Information has been or will be misused and cooperate with Plan Sponsor in preparing any notices by Plan Sponsor concerning such Financial Information Breach, and if directed by Plan Sponsor, fulfill Plan Sponsor's obligations under applicable law with respect to such notice and provide verification of the same.