When discussing the GDPR, a common confusion we run into is the difference between consent and legitimate interest, as well as when to use them as your legal basis for collecting, processing and storing personal data. Each of these are incredibly important in ensuring you’re connecting with your prospective customers and not stalking them.
To say that data governance and data compliance are rapidly becoming areas of immense strategic importance for businesses would be an understatement. Governments worldwide already have data protection laws in place or are busy drafting these laws. Moreover, users have become increasingly aware and educated about their rights online, especially regarding what data businesses can collect about them.
From the first online transaction in 1994, we have seen online transactions evolve faster than anticipated. With this also came an evolution of rules and regulations to avoid the abuse of personal data. The GDPR is one such regulation that has an important role in regulating the whole structure of online transactions. It has also led to the development of specialized fintech cybersecurity. But what exactly is the impact of the GDPR, and how is it helping?
The era we live in requires the digitalization of all subjects interacting with people, from giant companies to small-scale organizations. It is unquestionable that this trend has made significant contributions to the data collection process. But the larger the volume of data collected, the greater the risk of a security breach. For this reason, it is essential to control the security and transparency of personal data.
On March 9, 2022, the Securities and Exchange Commission (SEC) announced proposed rules and amendments to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting. These proposed amendments impact all public companies subject to the reporting requirements of the Security Exchange Act of 1934. To summarize this proposal and learn how to successfully prepare for them, read on.
California Consumer Privacy Act is a data privacy regulation established in the US. Achieving and maintaining compliance with the regulation can be overwhelming for organizations. But with the right understanding of the CCPA Compliance regulation and adhering to the compliance requirements, achieving compliance can be easy. So, explaining the regulation in detail we have shared an informative checklist that organizations can refer to as steps to achieve CCPA compliance.
In a previous article, I examined Australia’s proposed Security Legislation Amendment (Critical Infrastructure) Bill 2020. This information security overhaul imposes strict reporting requirements for enterprises as well as affords the Australian government unprecedented and far-reaching powers that enables them to intervene in the operation of an organisztion’s network in the event of a threat to critical infrastructure.
The US Senate has passed legislation designed to improve the cybersecurity of the Federal Government. The legislation, which consists of three bills, was unanimously passed by the Senate on Tuesday evening, and would – amongst other things – require organisations working in critical industry sectors to alert the US Government about hacks and ransomware attacks.
The Gramm-Leach-Bliley Act, known as the GLBA, was passed in 1999 under President Clinton. The goal of the GLBA was to update and modernize the financial industry. Today, it’s primarily used to protect customer and consumer information, with steep penalties for financial institutions that violate its privacy rules. Here’s what you need to know about the GLBA and its regulations.
