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Why Cybersecurity Is an Important Employment Law Issue

By Craig Nazzaro and Tracy Weir
October 17, 2016

Editor's Note: The case described herein involved misuse of confidential information by present and former employees. Although this case involved mortgage companies, the lessons learned are valuable to any business.

Earlier this year, a jury awarded Mount Olympus Mortgage Company (MOMC) more than $25 million for its claims against Guaranteed Rate (Guaranteed), which alleged that Guaranteed ' along with other former employees of MOMC ' illegally transferred hundreds of loan files from MOMC's internal systems to Guaranteed. While the award rightfully highlights some questionable hiring and customer portability issues, it's more notable for showcasing how important it is for a company to maintain control of its data security, both from external threats and from employees.

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