Security | Threat Detection | Cyberattacks | DevSecOps | Compliance

In today’s age of rapidly increasing data collection, data privacy laws are becoming more prevalent than ever. The EU’s General Data Protection Regulation (GDPR) is considered the worldwide benchmark of data privacy law. While many countries have followed similar regulations, the United States does not have a GDPR equivalent. Instead of national standards and regulations, individual states pass their own privacy laws.

The data protection landscape is changing. The rapid adoption of cloud and software as a service (SaaS) greatly affects the financial industry, where many institutions rely on SaaS vendors for data protection previously implemented in-house. Moody’s Analytics relies on cloud service providers (CSPs) to adequately protect its data, showcasing the need for scalability, industry cost controls, and flexibility.

The rise of hybrid work has accelerated digital transformation for organizations of all sizes. As a result, more and more applications and data are moving to the cloud. While this has created a number of benefits — including cost savings, ease of access, and increased operational efficiencies — the cloud has also made it more challenging to protect sensitive data.

Despite being the second-largest internet market in the world, India has yet to pass a comprehensive data privacy bill. It is important to have policies and regulations in place to protect them and their right to data privacy—a right that India’s Supreme Court recognized in 2017. Since then, the country’s government has been working towards passing a bill that codifies the rights of individuals to data privacy and protection.

With the rise of hybrid work, data leakage has become a significant issue. Employees are now working from a variety of locations, including their homes, coffee shops, and even public libraries. This makes it more difficult to keep track of data moving between managed endpoints and your organization's SaaS applications or private apps. Shadow IT, the use of unauthorized or unapproved software and services by employees has always been a challenge for IT departments.

In the modern, cloud-first era, traditional data protection technology approaches struggle to keep up. Data is rapidly growing in volume, variety, and velocity. It is becoming more and more unstructured, and therefore, harder to detect, and consequently, to protect.