Why Continuous Data Privacy Compliance Matters Now More Than EverTaking a “set it and forget it” approach to compliance all but guarantees you’ll fall victim to a data privacy breach. Put simply, data privacy compliance matters to every type of organization — especially those that think it doesn’t. Chances are businesses and other entities not paying attention to the latest data privacy standards are out of compliance. They’ll likely deal with the fallout of being out of sync with regulations and standards. With standards and regulations constantly coming or changing, continuous data privacy compliance is an integral part of running an organization that people have confidence in. What’s created the need for continuous data compliance? A few key factors:
Evolving Threat and RisksThere’s nothing more enticing to a cybercriminal than private data. There’s a lot they can do with it — from using consumer’s personal info to gain access to their finances to holding an entire operation hostage with a steep ransom price. A data privacy breach can have catastrophic effects on thousands of victims. As cyberdefense strategies adapt to block cyber threats, hackers try new strategies to gain access to networks and their precious data. It’s like a never-ending game of chess.
The Digitization of BusinessAcross all industries, day-to-day operations are light-years beyond what they were 20 years ago when the internet was still in its infancy. Now, there’s hardly a company out there that doesn’t rely on a digital infrastructure to keep its operations up and running. Doctors’ offices and hospitals take, store, share, and maintain digital patient records. Apps on your phone allow you to buy groceries without going to a store. You no longer need to set foot in a bank to deposit a check. With more business conducted online and data stored on networks, there’s greater risk for data breaches.
Government Regulations for Consumer ProtectionGovernments at all levels are now more proactive in making sure private information stays private. The reason is simple: After so many high-profile data breaches, data privacy regulation is absolutely necessary to keep the public at large safe from becoming a cybercriminal’s latest victim. As cyberattacks have become more sophisticated and frequent, data privacy compliance regulations have become comprehensive. They’re a far cry from 2003’s CAN-SPAM Act — laws and regulations such as the California Consumer Privacy Act (CCPA) or General Data Protection Regulation (GDPR) set strict standards for protecting private data and conducting business.
Maintaining Continuous Data Privacy Program ComplianceMeeting the latest data privacy regulations and standards may seem like a tall order. It should. Uninterrupted data privacy compliance is a big undertaking for organizations of all sizes and requires constant attention. So how do you tackle maintaining a data privacy program that’s robust, yet agile? There are two options:
- Keeping work in-house