What’s the big deal about data privacy?
Data privacy regulations are on the rise around the world, from the EU (with the GDPR) to the US (with the CCPA and other state laws). Governments are increasingly regulating how companies collect, manage, and share consumer data.
This rising tide of regulation isn’t going to recede anytime soon. Though they’re a relatively recent legal development, data privacy laws are already in place in over 80 countries worldwide.
Why does it matter?
These new statutes require increased vigilance by legal and compliance departments. So businesses must prepare for this onslaught of regulation – or prepare to pay the price, which can be steep.
Companies need to have sound data privacy policies and frameworks in place, as well as the right tools to help them efficiently and proactively manage data privacy challenges on multiple fronts. Whether for responding to consumer data requests, or embedding the right policies and practices for preventing data breaches, a new range of best-in-class solutions are available. So you can flexibly address new regulations, and incorporate privacy into the very warp and weft of your data management practices.
Noncompliance can get expensive
In this example based on the CCPA, see how penalties can mount quickly for data privacy-related violations. Why? CCPA fines are applied for each individual consumer data file that’s been leaked, not deleted, sold without permission, or otherwise found in violation.
Minimum fine for each data record in violation
Number of consumer files in violation
Total minimum penalty
Data Privacy Use Cases
Proven Solutions for Data Privacy
ClusterSeven Shadow IT Manager
Gain full lifecycle risk management for your organization’s exposure to all non-IT supported applications and technical assets including models, tools, calculators, EUC and spreadsheets.