With hackers in high gear and cybercrime on the rise, there is no surprise that 2022 is going to see more emphasis on data privacy compliance regulations and cybersecurity for businesses. Among some of the most shocking statistics is the fact that cybercriminals can make inroads into 93% of company networks in an average of just two days, making it imperative that companies take robust measures to protect sensitive data.
Because there are both international and domestic privacy laws in the making, it is important that businesses get a clear understanding of what each entail so they can ensure compliance across the board.
2022: The Year of Data Privacy Compliance
After the coronavirus pandemic precipitated a few tumultuous years for businesses when it comes to cybersecurity, governments and organizations have regrouped to pass legislation that will help protect personal, private, and sensitive data from evolving threats. Here is a breakdown of pending and recently enacted rules:
Three states have enacted new laws that will govern data privacy compliance, all due to go into effect in 2023. The California Privacy Rights Act (CPRA) will amend the California Consumer Privacy Act (CCPA) and apply to certain businesses operating in California. Virginia and Colorado have also created privacy laws, although with narrower definitions for personal data than in California. Businesses operating in one or more of these states must have compliance programs that will fit the parameters of all three plans. This may require the creation of specific data inventories for each law; determining when and where opt-in or -outs are required; updated vendor agreements; developing new internal policies; and providing detailed disclosures for each set of requirements.
Companies that operate at a global level must address privacy compliance set forth not only by the General Data Protection Regulation (GDPR) and China’s new Personal Information Protection Law (PIPL) but also clarifications issued from the European Data Protection Board (EDPB), specifically where cross-border data transfers are enacted. Companies must gain a firm understanding of what constitutes a data transfer and understand the safeguards that are needed when entering into processing agreements.
Due diligence will play a large role in successful compliance with these regulations. These strategies can include analyzing all public-facing business features such as websites and policies along with internal focuses and policies surrounding consumer and employee data. Data processing agreements will all parties must be recorded and monitored to ensure compliance.
The Children’s Online Privacy Protection Act (COPPA) has received additional scrutiny from the Federal Trade Commission (FTC) and fines for failure to gain parental consent before processing childrens’ information are escalating, with one recent fine being as high as $2 million. New guidance on the processing of such data has been outlined under the GDPR as well. Companies must have knowledge of their users and, if the users are minors, they must implement specific protective measures. If a company sells products or services to children, they must establish intelligible and transparent notices of data usage and intent.
Trust Perry proTECH for All Your Compliance Needs
As data protection experts, our team at Perry proTECH helps keep our business clients compliant with myriad data privacy regulations, even as the landscape grows and changes. Our security solutions not only keep pace with evolving cyber security needs and challenges, but also help keep your core business data safe, secure, and compliant.
We use a combination of leading-edge technology along with monitoring and surveillance to give your business the peace of mind and security of knowing that your processes and your data are protected with the most advanced tools available. Our team will assess your infrastructure for weaknesses and vulnerabilities and build a custom-tailored security solution that will take into account all of your business needs and challenges.
Get expert help keeping your business data safe, secure, and compliant. Contact a Perry proTECH consultant and discuss how our security solutions can help you move more easily through the increasingly complex world of data privacy regulations.