Simple Process to Keep Your Company on Top of Data Privacy Rule Updates

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Global events, like the 2020 pandemic, have increased the need for organizations to be more digitally driven and reliant. 

The continuous development of global networks makes everyone more interconnected. It causes data protection and privacy measures to become necessary for organizations to tackle highly publicized and frequent data breaches. A report by Statista states that the cost of a data breach, as of 2022, is now 4.35 million U.S. dollars.

Given the consistent growth of technological innovations, which isn't expected to end anytime soon, companies must recognize the provided security regulations and safeguards needed to protect their data and privacy. Knowing these regulations is one thing, and keeping up with its regular changes is another. The legislation responsible for data privacy rules updates these regulations periodically with more strict measures due to the consistent increase in technology and cybercrimes.

Europe's GDPR (General Data Privacy Regulation) wasn't the first data privacy law to be created globally. Yet, it was undeniably a noteworthy change in data privacy legislation, tremendously affecting several companies globally. Several US states are about to adopt similar data privacy laws. Additionally, organizations need to adhere to industry-related data privacy regulations such as the Health Insurance Portability and Accountability Act (HIPAA).  How can companies keep up?


How Can Companies Stay on Top of Data Privacy Rule Updates 

To stay on top of data privacy rules, companies should consider adopting the measures below:  

  • Assessment of data security protocols

Constantly testing and auditing your data security protocols can help you stay on top of the changing data privacy and cybersecurity rule updates. Examining your data security protocols at least annually can help detect cyber errors and identify any vulnerabilities that could cause your company to be non-compliant with data privacy laws.

Keeping your business's privacy protocols in line with the existing rules will better place you in a position where it'll be easier to adjust when a regulation change happens.

  • Update your data privacy strategies

Updating your data privacy strategies for your business involves reviewing and adjusting your policies, practices, and procedures to ensure that you collect, store, and use personal data responsibly and in a GDPR-compliant manner. Future online data privacy rules will likely inform how affected users of a data breach should be advised and the kind of remediation to provide.

  • Facilitate consistent employee training

Regular employee training is critical to preventing a data breach in an organization. When well-trained employees are more likely to understand the risks and potential consequences of a data breach, they are also better equipped to identify and report suspicious activities, such as phishing attempts or other forms of social engineering.

Also, ensure you include your employees when handling data privacy practices. That way, they'll grow to understand most of these rules and try as much as possible not to break them. 

  • Employ data security top practices

Employing data security best practices in line with privacy regulations requires a comprehensive approach. That involves understanding the nature and sensitivity of the data being collected and processed, implementing appropriate safeguards to protect that data, and regularly reviewing and updating those safeguards to keep pace with changing threats and evolving regulatory requirements.

  • Reinforce your company's password policy

A strong password policy is essential for protecting sensitive information. Such policies can include guidelines for creating strong passwords, requirements for password complexity, and password storage and management guidelines.

To reinforce your company's password policy in line with privacy regulations, it is essential to communicate the procedure clearly to all employees and ensure everyone understands the importance of adhering to it. That can be done through training sessions, informational emails, or other communication methods.

It is also essential to regularly review and update the password policy to ensure it is up-to-date with current best practices and regulations.

Reasons for Data Privacy Rule Updates with More Strict Measures

With the proliferation of technology and the internet, the amount of data generated by individuals and organizations has increased exponentially, making it necessary to establish regulations that safeguard users' privacy.

The European Union's GDPR is one of the world's most comprehensive data privacy regulations. It imposes strict rules on how companies collect, store, and use personal information and includes severe penalties for non-compliance.

There are several reasons why countries are tightening and updating data privacy regulations. Firstly, individuals are growing concerned about how their data is being used and who accesses it. Secondly, data breaches have become more frequent, exposing sensitive information to hackers and malicious actors. Thirdly, companies have been criticized for exploiting personal data for commercial gain, leading to increased scrutiny and a call for regulation.

Reinforcing and updating data privacy rules, however, is a positive step towards protecting the privacy of individuals and improving transparency with the use of personal data. Companies and organizations must comply with these regulations to build customer trust and avoid legal consequences. 

Stay Ahead of Data Privacy Rule Updates with BrainStomp

BrainStomp helps companies solve their IT issues. We have confidence that we can help your business stay more secure. Reach out to us today to schedule a compliance assessment.