Significance of Data
Data is the new oil, and Organizations to tap into the potential that data carries, are extensively deploying measures to collect and harness data to gain the upper hand in the market. However, the data-driven environment that we live in has its fallouts. Instances of the data breach have increased lately. Besides, firms that are collecting data are using it in an unscrupulous way that is jeopardizing the privacy of users whose data is collected.
How states have responded to data breaches?
Globally governments have become aware of the possibility of disruption that misuse of data has caused and can cause. The governments are enacting or have enacted data privacy legislation to protect the users from the detrimental effect of a data breach or unauthorized sharing of data. CCPA and GDPR are at the forefront of data privacy legislation.
How can entities comply with Data Privacy Act?
Constituents of a comprehensive compliance process
- Data Delineation: It is the rudimentary step in charting out a course for a data privacy compliant entity. Data Delineation entails identifying what type and what is the source of the data collected by the Organization. Any third party URLs that your website hosts or third-party cookies through which the respective third-party entity collects data about the visitor to your website. It helps in categorizing data in under specific headings:
- people who have access to the collected data, and
- removal of data from the database once it fulfills the purpose of its collection.
- Data storage
Where is the data collected stored in your Organization, or is the storage outsourced? Does your existing contract require to be reviewed with the third-party vendors that are involved in processing the data that you collect?
- Data sharing
The entities or organizations that you share the data with. Are they handling the data according to the respective data privacy standards?
You should realize that although data privacy is a legal requirement, for an entity to be data privacy compliant, the synergy between legal and technology/IT is an indispensable element. For a smooth transition of an organization to a data privacy-compliant Organization, legal and technology/IT must work synchronously.
It is the collaborative effort of the legal and technology team that can ensure a data privacy compliant organization.
- Data Breach plan
There is a possibility that a data breach may happen in your Organization or at your vendor's Organization. It would help if you prepared a data breach plan. The plan includes essential elements:
- Identify where the data breach has occurred,
- Informing the relevant authorities about the breach,
- Informing the data breach affected users, mitigation plans, subsequent steps after the breach has occurred, etc.
- How long must the data be stored?
The gold standard is that the holder of data must delete the data from the database once the purpose of the collected data is realized. It is necessary to delete the redundant information because it reduces the responsibility of the Organization vis-à-vis the amount of data stored.
How can we help?
These legislations have altered the status quo, and firms have to adapt to the changed circumstances. Data privacy and consultancy services ensure that affected firms have a smooth transition into the era of privacy legislation. We have data consultants who are proficient in transforming the Organization into a data privacy act compliant organization. Similar to Pilots who navigate the aircraft, our lawyers at Vidma can assist you in navigating through the tricky waters of GDPR and CCPA. We understand that each entity has specific requirements, and we offer bespoke answers to each entity's predicament. You can rely on the experience of our lawyers to assist your Organization's transformation in complying with the CCPA.