The Impact of Montana’s Impediment of Identity Theft Legislation on Local Businesses

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Summary: Montana's 2021 legislation on Identity Theft Impediment, aimed at protecting customer data, has significant implications for local businesses. The law increases liability for companies that fail to secure customer data, leading to criminal and civil penalties. Compliance requires investments in cybersecurity infrastructure, which can be challenging for small to medium-sized businesses. However, the legislation also offers opportunities for businesses to differentiate themselves through robust data protection measures, which can be a key selling point for consumers. To comply, businesses may need to revise data storage and handling policies, invest in staff training, and update software systems. While there are costs associated with compliance, the long-term benefits of improved data security can outweigh the initial expenses.