Data protection is critically important in the modern digital world. The amount of data shared and collected is enormous and ever-growing. Private or corporate data is a valuable asset for the owners as well as an attractive target for cybercriminals.
To ensure high-performance information security, we recommend using the data protection tool with compliance monitoring for more traditional and new data privacy regulations.
What Is a Data Privacy Regulation?
Information or data privacy is a direction of data protection, regulating proper information treatment. Data privacy regulations or laws control the legal handling of information (how it is collected or shared) and relations between data owners and their audience, users, or third parties. Data privacy regulations depend on the country or region where the information is used, and failure to follow them may lead to different consequences - fines, bans, etc.
Types of Data Privacy Regulations
Major data protection tools are immensely beneficial as they automatically comply with various nuanced regulatory standards or are easily configured. Most of them support the following standards and regulations:
- General Data Protection Regulation (GDPR) - EU’s General Data Protection Regulation
- General Data Protection Regulation for Db2 for z/OS (GDPR for Db2 for z/OS)
- California Consumer Privacy Act (CCPA)
- Brazil’s Lei Geral de Proteção de Dados Pessoais (LGPD)
- Basel Committee on Banking Supervision (BASEL II)
- Health Insurance Portability and Accountability Act (HIPAA)
- Payment Card Industry Security Standard (PCI)
- Personally Identifiable Information (PII)
- Sarbanes-Oxley Compliance (SOX)
- Updated New York State Cybersecurity Requirements for Financial Service Companies (23 NYCRR 500)
Let's have a look at some of the latest and most common data privacy regulations controlling and securing the consumers' rights for the safety of their private information worldwide with extraterritorial jurisdiction.
General Data Protection Regulation (GDPR) - International Data Privacy Law
The GDPR is considered to be the most significant data protection regulation in the last 20+ years. The regulation promotes a transparent and prioritized data privacy approach - respecting data privacy rights.
The system develops strict penalties for data leaks. It's all about reducing data breaches and building harmonious trusted relations between organizations and users or customers.
Personal data carefully protected by the GDPR includes personal ID ranging from basic ID (name, address, Social Security number, biometric data, etc.) to web data (IP address, cookie data, location, etc.) and other sensitive information (health data, political opinions, etc.).
California Consumer Privacy Act (CCPA)
The CCPA is a new data protection regulation. This data privacy law can be compared to the European GDPR but restricted to California residents only. However, the GDPR-based system isn't fully compliant with the CCPA requirements. Companies need to adapt their privacy policies and make many other changes to safeguard consumers' rights.
Global businesses may find data privacy regulations rather tricky. They need to develop a compliance strategy that is functional for the whole world. Without professional help, that can be complicated.
The LGPD: Brazil’s Data Privacy Law
The LGPD is a Brazilian equivalent of the EU's GDPR or the CCPA for Californian residents. The LGPD safeguards the Brazilian citizens but has extraterritorial power and a broad view of personal data, as the two regulations mentioned. Being similar in the path to freedom and increased transparency, this data protection regulation has some more differences necessary to consider, e.g., it regulates businesses of all sizes.
Data Protection with IBM Security Guardium
Businesses don't have to manage stringent regulation compliance on their own. Making your company easily compliant with data privacy regulations is possible with data protection tools such as IBM Security Guardium. It helps companies comply with various regulations, preserve data privacy, and secure sensitive data in on-premises, hybrid, and multi-cloud environments.
The Guardium helps you quickly configure monitoring for necessary data privacy regulations. The data protection tool acts in accordance with the most well-known and comparatively new data privacy standards and laws such as PCI, PII, GDPR, HIPAA, CCPA, and others.
Categories
For your convenience, we’ve divided our blog on cyber security into several categories so that you can find necessary articles fast and effortlessly. Just choose the category that evokes your interest and enjoy reading.