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.

Organizations must constantly adapt to the challenges of maintaining compliance while handling data. Nowhere is that more apparent than cross-border data protection, which allows data to be and remain protected across jurisdictions, states, counties, and countries with the right data security tools. According to the United Nations, 137 of 197 of its members have data and privacy legislation in place.

Welcome to the era of data domination! Every day, 2.5 quintillion bytes of data flood the digital landscape, estimates Forbes, with a whopping 90% of data created in just the last two years. While this growth presents many opportunities for organizations, it also introduces many challenges. That’s where data governance comes in. It’s a critical practice for businesses trying to navigate data management and data security.

In 2023, the EU General Court overruled the European Data Protection Supervisor and ruled that pseudonymized data will not be classified as personal data under the of EU data protection law when transferred to a recipient who is unable to identify individuals. Businesses are now taking a closer look at their data anonymization processes, as well as the opportunities this new ruling may offer when transferring and accessing data across borders..

In a ruling made on April 26, 2023, the General Court of the European Union (EU) made a groundbreaking decision changing the definition of personal data that has been in place since the adoption of the General Data Protection Regulation (GDPR). This ruling has significant data-sharing implications for organizations within the EU and enables them to share data with third parties more easily, as long as it’s appropriately de-identified.