Cyber-security Regulations For Businesses That You Need To Understand
There are multiple topics that are always taking the lead today and cyber-security is one of these topics. Companies that are established today as well as businesses are all participating in discussing the topic. There are cyber-security regulations defined and it deems fit that you stay on top of these cyber-security regulations. The consumers are only concerned about their privacy. This is due to the fact that there is a lot of consumer data misuse hence making consumers feel vulnerable. 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. GDPR compliance was established or introduced on the 25th of May, 2018. These GDPR regulations were passed by the European Union and they demand that companies should notify their consumers on how they intend on collecting data and the reason why the need to collect that data.
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. The reasons why these two industries are overly regulated is because of the sensitive data they have and why they increase the vulnerability of many people. This demands for regular vetting for these two industries. 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. Thats why HIPPA is ensuring that the health industry is adhering to the set regulations. On the other hand, SEC is always obligated with the responsibility of regulating the financial industry.
California consumer privacy act is another key regulation that you need to understand. The congress is taking long before defining regulations and thats why California has defined its own acts to help keep consumers safe. This act is expected to be fully effective in 2020. Consumers and businesses in California are the ones to adhere to these regulations.
Cyber-security regulations ill, always keep changing and you are only on the safe side where you are on top on these regulations as they will never affect your business whatsoever. Therefore, ensure to rely on the above info that enlightens you on three cyber-security regulations that you need to understand. Understanding the cyber-security re-regulation will enable you stay on top of them, and this is a guarantee that your business is safe and that your consumers data is also safe.