One of the farthest-reaching privacy regulations of recent years is GDPR. Not only does it set strict requirements regarding how user data can be used, but it also provides clear guidelines regarding collection practices, notifications, and more.
If your company does business with any person in the EU, it needs to be prepared to meet the standards. Otherwise, the financial penalties are incredibly severe and could spell the end for small or even mid-sized businesses.
Changes in Asia
Several Asian countries also have new privacy regulations on the books while others are beefing up their requirements. In Vietnam, a new data protection law has altered the landscape for large companies like Facebook and Google. Russia also has several regulations designed to protect consumer data, and China is working on new regulations that will have a similar impact.
Again, if your company operates in Asia, exploring the privacy regulations in every country it touches is critical. Otherwise, remaining compliant is difficult and it could lead to fines or a loss of ability to do business in the region.
The California Consumer Privacy Act of 2018
Scheduled to become law on January 1, 2020, the California Consumer Privacy Act of 2018 outlines certain privacy standards. Violators will be required to pay some modest fines, creating a potential financial burden.
While the regulation is based in California, it is expected to have a wider impact than that single state. Since many companies operate nationally, large organizations will need to take the law into consideration, ideally preparing for it before the start of 2020.
Additionally, many other states have their own measures that may become law. Plus, if the federal government ends up under the control of one political party, national regulations could arrive quickly.
How to Keep Tabs on Emerging Regulations
Staying on top of new and upcoming regulations is essential for tech pros. Often, information about the laws is readily available online, so monitoring state, national, and international news publications can help you track those that may impact your business.
Additionally, regulating body’s websites are filled with details. You can also find summaries that can help you locate which parts of the laws may apply to your company.
Connecting with security groups on social media is another approach worth exploring. Often, these communities track regulations, including those that are just being considered, and offer guidance regarding how to become or remain compliant.
Find Talented Cybersecurity Staff With the Help of The Armada Group!
While keeping up with new regulations can be challenging, it is critical if you want to make sure you are not penalized for failing to properly manage user and customer privacy. If you would like to know more, the skilled professionals at The Armada Group can help. Contact us with your questions today and see how our privacy regulation expertise can benefit you.