Cyber-security Regulations That You Need To Acknowledge So As To Help Keep Your Business Safe
Today, there are some topics that are taking the podium in the business and political world and cyber-security is one of these crucial topics. This topic is very much discussed by almost all the companies in establishment today. There are cyber-security regulations defined and it deems fit that you stay on top of these cyber-security regulations. Today, consumers wants nothing more than assurance that their privacy is well protected. Consumers data is being misused on a daily basis and this makes the populaces or rather consumers concerned about their privacy in a good way. Through this article, you will discover more about the cyber-security regulations availed for corporations that are in charge of consumer data collections.
The very first regulation that you need to understand is the GDPR. 25th May, 2018 was the very first time that the GDPR regulations were heard of and when they became effective. The European Union was the one that defined these regulations and they necessitate corporations collecting personal data to always acquaint the consumers with the process of data collection and the intention.
The second group of cyber-security regulations that you need to understand is the industry specific regulations. The most regulated industry today is the health industry as well as the financial industry. This is due to the level of sensitivity they have as they at all times handle sensitive data. As a result, these two industries are regularly examined and regulated. Regardless of this high level of regulation, attacks are always imminent for these industries. The reasons why hackers are attacking these two industries is because they need only the SSN and bank account number to generate lots of money through the black market. Thus, HIPPA has extensively helped ensure that the health industry is appropriately regulated. On the other hand, SEC is always obligated with the responsibility of regulating the financial industry.
The California Consumer Privacy Act is the other fundamental cyber-security regulation to note. The congress is taking long before defining regulations and thats why California has defined its own acts to help keep consumers safe. The laws will be in effect come 2020 and these regulations will be in effect like the GDPR. Consumers and businesses in California are the ones to adhere to these regulations.
Cyber-security laws and regulations are always changing with time and there is always need for you to stay abreast with these regulations especially where you are a business person. Therefore, ensure to stay abreast with the regulations mentioned above. The only way to abide with these regulations is through understanding them and being on top of them at all times.