Written by Devyaani
Technical Content Writer
Data governance requires organizations to protect their customers' or citizens' data privacy, and the non-compliance of the same can cost businesses dearly. It encompasses processes, technologies, and professionals required to manage data assets to ensure protection. Its framework is a guided structure of data rules, role designations, and strategies to meet compliance.
Data privacy compliance can be a challenge as privacy regulations vary from country to country and even state to state. These regulations get thoroughly marked in various forms that mostly spell out what data needs to be protected, what processes should be accepted, and what imposed penalties should come into action if businesses are non-compliant. There are many governmental and industry-based data privacy regulations that businesses must comply with to avoid roadblocks. It includes the following:
Canada's PIPEDA provides data privacy protection and privacy services. It regulates how private sector businesses collect, use, and disclose personal data. The implementation of the same occurred in three stages. The act regulates organizations to take appropriate measures for data protection. It adds that personal information presented be accurate, up-to-date, and complete.
It is a European Union (EU) regulation. It regulates data privacy and data protection that creates privacy rights for data subjects and personal data, reducing privacy risk. It impacts the collection, storage, and processing of personal data. Even though there are many rules within it, most of them can be defined in three basic principles – minimizing the hold on data, obtaining consent, and ensuring data subjects' rights.
The state law protects California residents' data, affecting most businesses that serve California consumers as customers. The regulatory requirements may be restricted. It puts small businesses out of scope as it involves large some medium to large-level organizations, depending on revenue.
The GLBA protects consumer financial privacy, limiting disclosure of a consumer's "nonpublic personal information." It covers a broad range of financial institutions (including many companies not traditionally considered financial institutions because they engage in certain economic activities).
The privacy rules and standards for HIPAA include standards for individuals' data privacy rights. It understands and controls the use of health information and incident responses.
With the change in time, it has become essential to follow data privacy regulations. It safeguards the businesses from paying hefty fines, increasing brand value, and earning their customers' trust. With numerous benefits, data privacy helps prevent breaches that harm businesses and further prevent individuals' identity. Besides, it also strengthens business ethics, adds to the growth, and helps gain a competitive advantage. Learn more!
In present times, businesses require more data that gets followed by many responsibilities. The data or information needs to come under a privacy program or framework to avoid privacy risks. Following are the tips approved by data protection officers and other professionals to ensure compliance.
Data privacy law initiatives indicate an accelerating change in the way businesses are recognizing the value of protecting data. While many businesses have already started with their data protection strategies, others are yet to follow.
Data privacy services can help you achieve data governance compliance by automating data privacy regulations. It requires structuring privacy programs and frameworks. Data privacy services also look after set deadlines for data requests and help businesses better understand the customers.
Royal Cyber experts can help you assist with a comprehensive view to ensuring data quality and consistency that guarantees better decision-making strategies. We provide continued existence through risk management and optimization with our established rules of data use and compliance requirements that increase data value. What more? Our operation models help you to control the workflow better with less effort that provides flexibility and scalability. For further details on the services, contact us.