How to Stay Ahead of Data Compliance Regulations in 2020
A new decade is around the corner – what does that mean for the enterprise? If you’re well-positioned, you may have a host of new opportunities (new markets, new products, new technologies) of which to avail yourself. However, no matter where you are in the market, you’ll still face stringent privacy regulations.
What steps can you take toward achieving compliance that are efficient yet effective? Read on to learn more about upcoming privacy regulations and the tools you can implement to make achieving compliance easier for your firm.
What Data Compliance Regulations Will Affect You in 2020?
On January 1st, 2020, the State of California will enact the California Consumer Privacy Act (CCPA), also known as AB 375. Experts are calling the CCPA even broader than Europe’s GDPR because California legislators have a more expansive definition of private data.
The CCPA allows any California consumer to demand to see all of the information a company has saved about them. Consumers also have the right to see the list of third parties with whom their information has been shared. Moreover, California law enables consumers to sue companies if there’s been a violation of privacy guidelines, notwithstanding the absence of a data breach.
This law affects firms that serve California residents and have annual revenue of at least $25 million. Additionally, companies of any size that have personal data on at least 50,000 people or that collect more than half of their revenues from the sale of personal data must comply with the CCPA. Businesses don’t even have to be located in the US, or have a physical presence in California, to be subject to the CCPA.
What Steps Can You Take Towards Achieving Compliance with Data Privacy Regulations?
The CCPA and other data privacy regulations should give firms pause – they come with heavy fines (up to $7,500 per record). California consumers can also take part in class-action lawsuits against firms. Achieving compliance takes on increased importance in this regulatory landscape. Fortunately, it’s not impossible.
Syncsort’s Assure Security helps you maintain regulatory compliance thanks to its powerful features. Assure Compliance Monitoring quickly identifies security and compliance issues by alerting users and producing reports on IBM i security. Moreover, Assure Security Risk Assessment thoroughly examines over a dozen categories of security values, then reports on findings and recommends solutions to fix vulnerabilities.
With Assure Security, you can rest assured that customer data is safe. Assure Security routinely assesses risk and takes control of logon security, authorizations, and system access. Those capabilities protect your data from hackers and criminals who would wreak havoc with data breaches.
The consequences of regulatory noncompliance are frightening. Even large companies can’t afford such large fines. Achieving compliance doesn’t have to be complicated or challenging though, because Syncsort’s Assure Security safeguards information, including taking proactive measures to notify users about vulnerabilities.
You can learn all about Assure Security by watching our webinar where we’ll introduce you to Assure Security’s capabilities and show you how Assure Security can help you with all your high priority IBM i compliance and security needs.