Despite having distinct differences, data privacy and compliance are deeply intertwined with cyber security. As focus on data privacy and compliance increases, business leaders can expect to see vast changes related to how consumer data is managed, shared, and secured. Policy & laws on data privacy and compliance continue to expand and become increasingly stringent, so it is important for companies and their respective business leaders to consider these areas as they develop & evaluate their cyber security strategies. For instance, last year the SEC proposed amendments to its rules on cyber security, risk management, strategy, governance, and incident disclosure by public companies.
At a more granular level, there are various initiatives to protect specific consumer data and ensure enterprises are compliant in doing so – particularly health data and children’s personal information. The American Data Privacy and Protection Act (ADPPA) if passed could greatly impact health data beyond the scope of HIPAA by establishing a national framework to protect & preserve the privacy of consumer data collected by entities not covered by HIPAA. In an American Medical Association survey, about 75% of surveyed patients expressed concern and confusion related to the privacy of their health data and how it is handled. The ADPPA could help clear up some of this confusion by establishing clear expectations. Another critical area is the collection of personal information of children. The Children’s Online Privacy Protection Act (COPPA) helps put parents in control of how their children’s data is handled and ensures that all entities in possession of this data sustain its confidentiality, security, and integrity.
Maintaining strong data privacy and compliance practices is imperative in preventing sensitive personal data from becoming compromised. This information is extremely valuable to cyber criminals, who seek to utilize compromised data to steal others’ identities or resell such PII.
This panel will look at the latest data privacy policies and implications for what this means for business leaders in the future. Our lineup of experts will lend their insights and offer best practices relating to privacy, compliance, and identity protection.
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