Data privacy is a legal issue that companies have to tackle. They need to understand how it affects their business and what steps they should take to comply.
There are several types of data privacy laws that businesses must comply with. These laws protect personal information from unauthorized use and disclosure and protect consumer rights.
Generally, these laws require organizations to get consent before collecting any personal information, and they also have strict data residency requirements. For example, suppose a company collects information from an EU citizen. In that case, it must store it on servers in the EU and notify the individual when that data is transferred to a server outside the EU.
Healthcare Laws and directives
Healthcare data privacy laws protect patient information, medical records, and other sensitive health data. They set limits and conditions on how healthcare providers, Insurers, and other healthcare entities can use, disclose or transfer PHI and imposes penalties for violations.
The EU’s General Data Protection Regulation (GDPR) was created in response to the rise of data abuse. Its primary focus is on protecting people’s data, and it covers a wide range of industries, including all the large financial institutions that operate in the EU.
The California Privacy Rights Act (CPRA) is another data privacy law similar to the GDPR. It largely mirrors the GDPR, but it also has some special provisions that make it unique to California.
CPRA requires that any business making available, sharing, selling, or disclosing customers’ personal information to contractors and service providers must provide written contracts that “flow down” certain obligations. In addition, it includes additional requirements such as notification of breaches and audit rights for sub-processors.
A data privacy consulting firm will help your organization develop a comprehensive compliance strategy that addresses all aspects of the new law. It will include a thorough search for all applicable standards and measures, a review of your data privacy policies to ensure they meet the requirements, a complete risk assessment, and ongoing support through the process.
These services will also provide you with a team of experts handling the day-to-day operational and subject matter tasks necessary to comply. They can be a valuable resource for companies that need to develop a compliance program quickly or for those that need a trusted partner to oversee their compliance efforts.
In addition, a data privacy consultant can help develop and execute strategic communications plans in case of a privacy crisis. These can be especially important if your company operates in a public sector, like the healthcare industry, or has many consumers with special needs or high levels of trust.
Data privacy is an increasingly complex and critical issue for businesses, and the law is constantly changing. Having the right resources to help your organization navigate and comply with data privacy laws can help your company avoid reputational risks, disruption in sales, fines, and higher transaction fees. It can also help your company to build a strong brand image that will allow it to thrive in an ever-changing marketplace. If you are interested in learning more about how Privacy24, or have questions regarding your company’s data privacy program, please contact [email protected]