New Opportunities & Business Risks with Evolving Privacy Regulations

In the shadow of the global pandemic and the associated economic downturn, organizations are focused on cost optimization, which often leads to impulsive decisions to deprioritize compliance with all nonrevenue programs. Regulators have evolved to adapt with the notable increase in data subject complaints and are getting more serious about organizations that don’t properly protect consumer data. Marriott was hit with a $124 million fine while Equifax agreed to pay a minimum of $575 million for its breach. The US Federal Trade Commission, the US Consumer Financial Protection Bureau (CFPB), and all 50 U.S. states and territories sued over the company’s failure to take “reasonable steps” to secure its sensitive personal data. Privacy and data protection are enforced by a growing number of regulations around the world and people are actively demanding privacy protection — and legislators are reacting. More than 60 countries have introduced privacy laws in response to citizens’ cry for transparency and control. By 2023, 65% of the world’s population will have its personal information covered under modern privacy regulations, up from 10% today, according to Gartner. There is a convergence of data privacy principles, standards and regulations on a common set of fundamental principles. The opportunities to use data are growing exponentially, but so too are the business and financial risks as the number of data protection and privacy regulations grows internationally. Join this webinar to learn more about: - Trends in modern privacy regulations - The impact on organizations to protect and use sensitive data - Data privacy principles - The impact of General Data Protection Regulation (GDPR) and data transfer between US and EU - The evolving CCPA, the new PCI DSS version 4 and new international data privacy laws or regulations - Data privacy best practices, use cases and how to control sensitive personal data throughout the data life cycle