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Countries all over the world have followed suit since the EU’s General Data Privacy Regulation (GDPR) went into effect in 2018. At Progress, we have a strong commitment to protecting our data and that of our customers, employees and vendors/service providers, especially during this time of new legal challenges caused by rapid technological development. Accenture reports that the average cost of cybercrime has increased 72% in the last five years, reaching US$13.0 million in 2018. Subscribe to Focal Point's Privacy Pulse below - a once-a-month newsletter with guides, webinars, interesting white papers, and news all focused on data privacy. In an effort to show their support of privacy protections, Microsoft voluntarily extended the CCPA’s consumer rights to all of its U.S. customers and the GDPR’s data subject rights to customers across the globe. The marked resemblance between the two laws seems to indicate a building consensus among legislators (with only a few key sticking points remaining). Data Protection Day commemorates the Jan. 28, 1981, signing of Convention 108, the first legally binding international treaty dealing with privacy and data protection. To avoid a complicated tapestry of data privacy laws – which would drive higher compliance costs and could slow business growth – we expect increased momentum toward a federal privacy law in 2020. To act on this commitment, we have in-house experts who run internal and external programs to oversee data and information security programs. As for the U.S., I expect that Congress is not far away from adopting similar privacy regulation like GDPR. Following are three predictions for where consumer privacy and data protection trends are heading: The consumer data privacy regulation charge will pick up even more speed Solutions for personal data control will spark new levels of innovation Chief Data Officers (CDO) will … One defining feature of 2019 was an increasing focus on data privacy around the world, including a variety of new government regulations. You can look at these trends and see a scary talent shortage on top of even more regulations and penalties. Here are five trends that data-security experts see ahead—and what your company can do to prepare. While legal teams and compliance experts have extensive knowledge of these regulations, organizations lack privacy professionals who have the skills and experience to actually operationalize compliance. Nelson Ortiz is an internal communications manager for the corporate communications team at Progress. While talent shortages are an issue in new technical industries like this one, there are steps companies can take to try to bridge these gaps. Some consumers are more willing to share their personal information with an organization if the company can demonstrate that they have privacy safeguards in place. More and more companies will understand that a single role (a DPO or any other role) will be incapable of single-handedly managing, supervising and implementing data protection lawsand policies. The struggle to comply with increasingly stringent privacy laws across geographies and industries has put a strain on many data privacy and compliance teams. This takes place around the globe in an international effort to empower and encourage individuals and businesses to respect privacy, safeguard data and enable … To get ahead, assess the risks of your suppliers and how they are utilized in your organization. Ultimately though, in the event of a third-party breach, organizations are held responsible by enforcement agencies for performing due diligence on their vendors. 4 Free Cybersecurity Awareness Email Templates To Use at Your Company, The 5 Most In-Demand Cybersecurity Jobs for 2020, The Future of Internal Audit: 10 Audit Trends to Prepare for in 2020, How to Get Started on the DoD's CMMC Certification, Business Continuity and Disaster Recovery. While many U.S. organizations are not in-scope for laws like the CCPA or GDPR or do not have to extend the rights to consumers or data subjects outside of California or the EU, demonstrating data security and data privacy measures and programs to customers can increase consumer trust. Depending on how they interact with the data your organization processes, these different teams and individuals need customized privacy training to help them better understand the policies in place to safeguard this data and to aid them in implementing and maintaining data privacy processes. Solving Business Challenges With a Digital Experience Platform, Digital Experience Provided a Win in a Challenging Year, Setting an American Framework to Ensure Data Access, Transparency, and Accountability. This takes place around the globe in an international effort to empower and encourage individuals and businesses to respect privacy, safeguard data and enable trust between all people. This will includ… Significant penalties for GDPR compliance violations were issued to some of the biggest tech companies in the world, prompting many organizations to boost their compliance efforts. Copyright © 2019 Focal Point Data Risk, LLC. It’s the bedrock of any business – large or small that wants to survive. If you’re looking for more tips on talking to your board about privacy compliance, we created a list of strategies to improve board conversations and to effectively communicate the need for investments in privacy in 2020. Most recently, the European Union’s General Data Protection Regulation (GDPR) has driven a global movement of maturing privacy and data protection laws with stricter requirements. New data privacy frameworks were introduced from widely respected industry groups like NIST and ISO. These data privacy trends dramatically change the way private entities collect and process consumer data. Companies that invest in data privacy, especially around consumer rights programs, may be able to build consumer trust more easily than competitors that do not. Data privacy is a part of the data protection that deals with the proper handling of data The year 2020 marks a significant concern over data management. Editor's note Special thanks to Chuck Pollak and Ryan Buckley in the legal department and the InfoSec team George Ribarski and Stefan Lambrev for their valuable contributions to this article. Privacy has become a major debate in the U.S. as companies rushed to comply with the California Consumer Protection Act (CCPA), and more states introduce their own data privacy-focused laws. See Trademarks for appropriate markings. You can also ask us not to pass your Personal Information to third parties here: Do Not Sell My Info. It is just distributed across geographical locations and not just in the office. Barbara Lawler, Chief Data Privacy and Ethics Officer at Looker. Though not … Data privacy is a hot topic because cyber attacks are increasing in size, sophistication and cost. The phrase “Data is the new oil” was coined considering the growing importance of personal and organizational data. Through these opportunities, we have identified nine key trends we believe will define the world of privacy in 2020. State of Industry. However, monitoring these laws and the similarities between them may help with future compliance efforts as you build your 2020 privacy strategy. Until then, we expect privacy to become a key technology differentiator, with organizations that prioritize data protection gaining a significant competitive advantage. The major differences between the two are 1) COPRA calls for the establishment of a separate agency under the FTC to enforce the law, while the CDPA leaves enforcement to the FTC, and 2) COPRA includes a private right of action, which would allow private citizens to bring their own lawsuits against an organization that violates compliance. As the regulatory landscape continues to evolve, the big takeaway for 2020 is that being proactive and having a corporate data privacy strategy is important to mitigate data privacy breach, due to the reasons stated below. Data privacy, privacy management, digital privacy, data protection – the list goes on when it comes to data privacy and protection imperatives. —Heidi Shey. Every company would love to provide personalized products or services that are tailored to your needs and provide more value. Data privacy legislation was also a major focus for state governments in New York, Massachusetts, Texas, and Washington in 2019. So, what should your business do to prepare for these data privacy trends? The General Data Protection Regulation (GDPR) may have pushed data privacy into the spotlight in 2017 and 2018, but in 2019, privacy became a global superstar. Preparing for the new year can be exciting, but it can also be intimidating. As state and national governments recognize the need for data protection, more regulations will be issued, but in order to keep up, organizations will seek out ways to unify these various laws and standards. Privacy and security teams are no longer solely responsible for data privacy. Over the past few years, there’s been a sea change around data privacy. Just over six years ago, on January 27, 2014, Congress adopted S. Res. For International Data Privacy Day, we asked one of our experts here at Progress about data privacy trends for 2021 and beyond. Embrace them as an opportunity to take an in-depth look at your privacy program or to develop a program if you don’t have one already. The GDPR set a high bar for penalties, with violations costing organizations up to 4% of global revenue. Let our experts teach you how to use Sitefinity's best-in-class features to deliver compelling digital experiences. The SolarWinds hack at the end of 2020, should have increased any company’s awareness that its security depends on suppliers of safe and secure software and hardware solutions. 84% of respondents indicated that they care about privacy, care for their own data, care about the data of other members of society, and they want more control over how their data is being used. California set off a chain reaction when it passed the CCPA in 2018. Both proposals were reviewed by the U.S. Senate in a committee hearing on December 4, 2019. The two proposals share a number of very similar requirements, including “affirmative express consent,” more transparent privacy policies, increased data security measures, designated privacy officers, and mandatory data privacy risk assessments. The new year will see the continuation of some long-time trends with a few notable additions. Focal Point Online Privacy Policy. Data protection regulations around the world will increase. The easiest way to communicate the importance of data privacy to executives? Data privacy awareness training is a staple of most organizations, an annual routine just like cyber awareness training. Since the introduction of the General Data Protection Regulation (GDPR) in 2018, more than 60 jurisdictions around the world have enacted or proposed a privacy or data protection law, including Brazil, Japan, Thailand, and … Announcing the Data Protection Trends Report for 2021 . Consumers are increasingly aware of their rights, and while data privacy regulation has been a source of anxiety in the past, businesses are increasingly used to and even excited for future regulation. Privacy and compliance teams need to take the time to tailor these trainings and to meet with these teams regularly to understand the privacy challenges they’re facing and how to address them. But this doesn’t mean these conversations are over. Data privacy has changed rapidly in the last 12 months. Our 2020 Digital Consumer Trends survey explores the impact of macro trends on consumer relationships with digital devices, content and the wider connectivity landscape. The most obvious solution is training. Developments in the world of data protection are unceasing. Information, data privacy and security concerns are a persistent trend that we’ve been reporting on nearly every year since computers started booting up. For example, in this COVID-19 stressed global economy, I expect to see more fraud and phishing attempts. I don’t know about you, but I receive almost one or two daily phishing attempts or phone calls asking about my personal information or requesting me to click a link in my email. Last year, several legislative bills were introduced to Congress for consideration (e.g., Setting an American Framework to Ensure Data Access, Transparency, and Accountability or SAFE DATA Act). New data privacy legislation related to the COVID-19 pandemic. Choosing a unified, enterprise-wide data privacy strategy requires significant research and resources up front, but once implemented, it can significantly reduce future efforts. You can unsubscribe at any time. To make these decisions, privacy and security teams must work together to identify data privacy risks and to design controls that effectively address these risks. Data Security and Compliance. Therefore, many organizations are regularly assessing their third-parties’ security measures, establishing risk profiles, and determining what data (if any) should be shared with them. Data Privacy Statistics. Subscribe to get all the news, info and tutorials you need to build better business apps and sites. Given the current pace of legislative progress, we expect these proposals to continue receiving considerable discussion in Congress, but it remains very unlikely that either will be passed this year. With leaders like Microsoft and Apple making privacy a core part of the feature set, others will surely follow. Privacy requirements dramatically impact an organization’s strategy, purpose and methods for … Focal Point is not a licensed CPA firm. It’s important to keep employees on their toes. The call for a federal data privacy law will grow louder.. State privacy laws create new and significant business... 3. With the number of high-profile data breaches that occurred over the past year and the increased focus on data privacy legislation, consumers are much more conscious of the importance of data protection. Speak in numbers. The struggle is many data privacy regulations are vague when it comes to security requirements. Supply chain security is on top of a lot of organization’s security strategies list. With an increased focus on privacy compliance, the need for knowledgeable, experienced data privacy professionals has increased. CCPA enforcement will begin in July, and it should be expected that penalties will be doled out shortly thereafter. For International Data Privacy Day, we asked one of our experts here at Progress about data privacy trends for 2021 and beyond. It is our process to review the threats and risks to the privacy of your data and assuring the security of your data is sustained. The same IAPP study found that 56% of respondents are working toward “a single, global data protection/privacy strategy,” implementing a global strategy that is tailored to individual jurisdictional requirements when needed. State privacy laws create new and significant business challenges, especially for organizations with widespread operations. The IAPP found that the most common type of risk assessment was third-party risk assessments (selected by 78% of U.S. respondents), and the popularity of these assessments is likely to continue well into 2020 and beyond. Data… Digital technology has, in many ways, changed our conception of privacy. This emphasizes the importance of transparency around what data is collected, how data is handled and the ability to correct or delete your data are rights that our customers have. All rights reserved. It’s up to privacy and compliance leaders to get them started. Let’s have a look at the top five European trends we see for the months ahead. Aside from penalties, the average cost of a compliance program is about $5 million, but the average cost of non-compliance is at $15 million. Privacy has also been significant concern for those anticipating Brexit in the U.K. The decision by the European Union in October 2020 means that EU privacy rules have jurisdiction over national security rules anywhere else.

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