Once data began going digital, authorities realized a need to protect it. Thus, the creation of data privacy rules and regulations to address cyber threats.
Many organizations have one or more data privacy policies they need to meet. For example, those in the U.S. healthcare industry and their service partners need to comply with HIPAA; anyone collecting payment card data must worry about PCI-DSS; and GDPR is a wide-reaching data protection regulation that impacts anyone selling to EU citizens.
Industry and international data privacy regulations are just the tip of the iceberg. Many state and local jurisdictions also have their own data privacy laws. Organizations must be aware of these compliance requirements, and they also need to know about updates to these rules.
By the end of 2024, about 75% of the population will have its data protected by one or more privacy regulations.
Authorities enact new data privacy regulations all the time. For example, in 2023, four states will have new rules. Colorado, Utah, Connecticut, and Virginia will begin enforcing new data privacy statutes.
Businesses must stay on top of their data privacy compliance requirements. Otherwise, they can suffer. Many standards carry stiff penalties for a data breach, and if security is lacking, fines can be even higher.
The Health Insurance Portability and Accountability Act (HIPAA) uses a sliding scale. Violators can be fined between $100 to $50,000 per breached record. The more negligent the company is, the higher the fine.
Does all that sound scary?
Don’t worry, we have some tips below to help your business keep up with data privacy updates that may be coming your way.
Does your organization have a list of the different data privacy rules it falls under? There could be regulations for:
Identify all the various data privacy regulations that you may be subject to. This helps ensure you’re not caught off guard by one you didn’t know about.
Don’t get blindsided by a data privacy rule change. You can stay on top of any changes by signing up for updates on the appropriate websites. Look for the official websites of the compliance authorities relevant to your business.
You should have updates sent to more than one person. Typically, your Security Officer or equal, and another responsible party. This ensures they don’t get missed if someone is on vacation.
Companies are always evolving their technology. This doesn’t always mean a big enterprise transition. Sometimes you may add a new server or a new computer to the mix.
Any changes to your IT environment can mean falling out of compliance. A new employee mobile device added but not properly protected is a problem. One new cloud tool an employee decides to use can also cause a compliance issue.
It’s important to do at least an annual review of your data security. Match that with your data privacy compliance requirements to make sure you’re still good.
Waterdog offers complimentary Technology Compliance Reviews to our active business customers. Give us a call at (484) 580-8568 to set up a video conference or in-person meeting, or to learn more about the complimentary services we provide when you become a business customer!
Something else you should audit at least annually is your policies and procedures. These written documents tell employees what’s expected from them. They also give direction when it comes to data privacy and how to handle a breach.
Audit your security policies annually, or whenever there is a data privacy regulation update. You want to ensure that you’re encompassing any new changes to your requirements.
When you receive a notification that a data privacy update is coming, plan ahead. It’s best to comply before the rule kicks in, if possible.
Look at three areas of your IT security:
Employees should be aware of any changes to data privacy policies that impact them. When you receive news about an upcoming update, add this to your ongoing training.
Good cybersecurity practice is to conduct ongoing cybersecurity training for staff. This keeps their anti-breach skills sharp and reminds them of what’s expected.
Include updates they need to know about so they can be properly prepared.
Remember to always log your training activities. It’s a good idea to log the date, the employees educated, and the topic. This way, you have this documentation if you do suffer a breach at some point.
Waterdog offers security awareness training as part of our Cybersecurity Services, as regular security awareness training sessions and workshops are a powerful way to protect your business from cybercrimes.
Data privacy compliance can be complex. But you don’t have to figure it all out yourself. Our team is well-versed in compliance needs. Give Waterdog a call today to schedule a chat and learn more about how we can help your business succeed.
Article used with permission from The Technology Press.
