Winooski, VT (PRWEB) July 16, 2008
CPASiteSolutions (http://www.cpasitesolutions.com) announced today the development of a new proprietary full-time encryption scheme for completely protecting client financial data that is stored online.
Accountants and CPAs are required by law to protect their client's data when it's stored or transferred over the web. "But many accounting firms don't have secure systems in place to adequately protect their clients' personal financial information." according to Brian O'Connell, President of CPASiteSolutions.
"The problem is that not all Secure Client Portals are secure. In fact, many unsuspecting accounting firms use Client Portals that store their client's financial data in a plain unencrypted format. If a hacker finds their way into the system they have free rein over the private financial data of hundreds of clients." says O'Connell.
The Gramm-Leach-Bliley Act (GLBA) requires all Accountants to design, implement, and maintain safeguards to protect their client's information. GLBA includes severe civil and criminal penalties for noncompliance. Civil penalties include fines up to $100,000 for each violation, and key officers may be fined up to $10,000 per violation.
"Many CPAs don't realize that sending client tax returns or financial statements via email is in direct violation of The Gramm-Leach-Bliley Act and puts themselves at risk of huge fines and law suits." says O'Connell.
CPASiteSolutions Secure Client Portal system encrypts all client data 100% of the time and uses an unprecedented 14 layers of security. Their Secure Client Portal is a hosted Software as a Service (SaaS) and costs the accounting firm $49.50 per month.
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