Compliance with laws and regulations is no more a choice. To prevent stringent penalties, globally, businesses require long-term data retention as a foundational IT strategy.
Risks of poor data protection
Modern digitally-enabled businesses gather and store sensitive and personal data from customers, increasing the risk of misuse if a breach occurs or data leaks.
Data breaches and theft can be costly for businesses in financial terms and loss of reputation.
Why are the governments getting involved?
Big brothers (governments worldwide) are stepping in to protect consumers’ interests by enforcing businesses to improve their systems to protect sensitive data.
At the start of 2021, there are over 130 jurisdictions that have data protection and privacy laws. Every country might have different specifics to its rules; some might be stricter than others.
With the rapidly growing digitization of businesses, the governments are enforcing these data protection laws to protect consumers’ privacy.
Some examples of such stringent regulations are GDPR, HIPAA, CCPA, SEBI, RBI, Personal data protection bill, etc.
Compliance with laws and regulations is no more a choice
Even if your business is unregulated, you might encounter an applicable state or country data protection and privacy law mandating you to comply.
Besides legal compliance, companies must adhere to general data protection and privacy laws to build trust with their customers.
To support compliance with laws and regulations, here is a list of global data protection and privacy laws
Here is a ready reckoner of the data protection and privacy laws in various countries. While this is not an exhaustive list, it can serve as a guidepost to your compliance initiatives.
Protecting email data can strengthen compliance with laws and regulations
Email is one of the most commonly used communication modes within businesses and organizations. Most customer and employee data is stored/ transferred in emails, meaning companies must rigorously manage email data. Therefore, enterprises must ensure proactive protection, access, and retrieval of emails with these prevailing laws. A good cloud data management solution like Vaultastic, powered by AWS, can help you retain email data and comply with local data protection and privacy laws.
