Those who work up close and personal with security compliance standards can always use another tool in their tool belt. So we won’t waste your time. Using this cheat sheet, you can quickly explore the ever-changing requirements and penalties for some of the most significant regulatory compliance standards across the globe.
It’s difficult to keep up while meeting data compliance standards, which is why it’s crucial to have a resource for your efforts. Let’s dive into the highlights of security compliance standards and how Protegrity helps meet these demands below.
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General Data Protection Regulation (GDPR)
- Jurisdiction: European Union (EU)
- Focus: Data protection and privacy for individuals within the EU.
- Key Requirements:
- Data minimization and purpose limitation.
- Explicit consent from data subjects for data processing.
- Right to access, rectify, and erase personal data.
- Mandatory Data Protection Officer (DPO) for certain organizations.
- Data breach notification within 72 hours.
- Penalties: Up to €20 million or 4% of annual global turnover, whichever is higher.
- How Protegrity Helps: Protegrity ensures GDPR compliance by providing tokenization and encryption to secure personal data and support data minimization and purpose limitation. Protegrity’s data protection platform enables organizations to fulfill GDPR’s consent, data access, and breach notification requirements by securing sensitive data and protecting it from unauthorized access.
While GDPR governs data in the EU, companies operating in the U.S., especially in California, must also navigate the complexities of the CPRA.
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California Privacy Rights Act (CPRA)
- Jurisdiction: California, USA
- Focus: Privacy rights for California residents.
- Key Requirements:
- Right to know what personal data is collected, used, shared, or sold.
- Right to delete personal data held by businesses.
- Right to opt-out of the sale or sharing of personal data.
- Right to correct inaccurate personal information.
- Right to limit the use and disclosure of sensitive personal information.
- Businesses must provide a “Do Not Sell or Share My Personal Information” link on their website.
- Disclosure of data retention and collection practices in privacy policies.
- New enforcement body: the California Privacy Protection Agency (CPPA).
- Penalties: Up to $7,500 per intentional violation and $2,500 per unintentional violation, with additional penalties for breaches involving minors.
- How Protegrity Helps: Protegrity’s dynamic data masking and tokenization solutions ensure CPRA compliance by protecting consumer data while giving organizations control over data sharing and retention. With Protegrity, organizations can securely manage consumer requests, such as opting out of data sales or sharing, and limiting the use of sensitive data.
The CPRA helps protect PII from an overarching lens. It’s important, too, that certain regulatory compliance standards are established to protect consumers and patients within specific industries, such as healthcare. Let’s explore how HIPAA optimizes patient protection.
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Health Insurance Portability and Accountability Act (HIPAA)
- Jurisdiction: USA
- Focus: Protection of sensitive patient health information.
- Key Requirements:
- Administrative, physical, and technical safeguards to ensure the confidentiality, integrity, and availability of electronic protected health information (ePHI).
- Privacy Rule to protect patient information.
- Security Rule to ensure data security.
- Breach Notification Rule requiring notification of data breaches.
- Enforcement Rule with penalties for non-compliance.
- Penalties: Up to $1.5 million per violation category per year.
- How Protegrity Helps: Protegrity ensures HIPAA compliance through encryption and dynamic data masking, safeguarding electronic protected health information (ePHI). Protegrity’s solutions enable healthcare organizations to maintain the confidentiality, integrity, and availability of sensitive health data while meeting HIPAA’s breach notification and security rules.
Just like protecting PHI through HIPAA, Service Organization Control (SOC) regulates the protection of financial reporting, which utilizes sensitive financial information, in the efforts outlined below.
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Service Organization Control (SOC)
- Jurisdiction: Global
- Focus: Internal controls over financial reporting (SOC 1) and controls related to security, availability, processing integrity, confidentiality, or privacy (SOC 2 and SOC 3).
- Key Requirements:
- SOC 1: Focuses on financial reporting controls.
- SOC 2: Based on the Trust Services Criteria (security, availability, processing integrity, confidentiality, and privacy).
- SOC 3: Similar to SOC 2 but provides a public report.
- Regular audits by an independent CPA firm. Detailed reports on control activities and effectiveness.
- Penalties: No direct penalties, but non-compliance can result in loss of business and reputational damage.
- How Protegrity Helps: Protegrity’s enterprise data security platform supports SOC 2 compliance by safeguarding sensitive data through encryption and tokenization. Protegrity ensures that organizations meet SOC’s Trust Services Criteria, particularly in maintaining confidentiality and privacy. Regular audits are supported by detailed data control measures within the platform.
Organizations must select the right security compliance framework to meet security compliance standards and ensure their data protection strategies are aligned with their industry and geographical region.
Protegrity’s enterprise data security platform supports organizations in achieving regulatory compliance with a variety of standards, including GDPR, CCPA, HIPAA, and SOC, through tokenization, encryption, and dynamic data masking. Check out our capabilities or contact us to learn more.