In the digital age, data is the most valuable possession of any business. Today companies hold
more data than ever before.
● With this comes a crucial responsibility of how this data is stored, utilized, shared, and protected.
● The recent data breach incidents in Facebook and Cambridge Analytica illustrate how failure to take
care of confidential information can cause severe reputational and financial damage.
In the last few years, the number and complexity of regulations that firms need to comply with have
increased remarkably as authorities aim to take back control of the enormous amounts of data now
stored in the cloud and on the servers worldwide.
● These regulations that businesses need to follow while handling sensitive and personal data are
known as data compliance.
In this write-up, we've discussed five necessary data compliance standards and how to meet them.
General Data Protection Regulation (GDPR)
● European Union's GDPR encompasses a range of rules on people's rights to know what data
businesses possess about them, how these data should be processed by the companies, and tighter
rules on data breach reporting.
It does not apply to just Europe-based firms. If you're involved in a business relationship or
partnership with any individual firm under European jurisdiction, you need to abide by the GDPR
data compliance provisions.
Although this European regulatory standard involves various rules, it operates under three primary
● Obtaining consent for sharing data
● Ensuring the rights of data subjects
● Minimizing the amount of information you hold
● The first step to ensure following GDPR data compliance protocols is assigning an individual (data
protection officer) to monitor its activity.
● Assigning a data protection officer is mandatory in certain organizations that hold a large amount of
● The data protection official
is responsible for monitoring and implementing data compliance
strategies to ensure the GDPR protocol's fulfillment.
Health Insurance Portability and Account