Regulations
Data privacy regulations are intended to ensure the safety, security and confidentially of personally identifiable information (PII). These regulations can span borders and jurisdictions, but many are industry specific, with detailed provisions in place relating to that specific sector.
Read on to learn more about the data privacy regulations relevant to your industry or country.
There are numerous financial data privacy laws in place to ensure the security and confidentiality of customer records and information. These include the GLBA and PCI DSS, the latter relating specifically to credit card information. Examples of entities that need to be compliant with these regulations include banks, lenders, foreign exchange firms, financial providers, Hedge fund management companies, money transfer firms, merchants and credit card companies.
The Federal Family Education Rights and Privacy Act (FERPA) requires data to be concealed for the purpose of protecting student confidentiality and assigns certain rights to children and students over their personal data.
The Health Insurance Portability and Accountability Act of 1996 (HIPAA) requires healthcare agencies to establish national standards for electronic health care transactions and regulates the safeguarding of private, individually identifiable health information. Organizations required to maintain compliance with HIPAA include health plans, health care providers, health care clearinghouses, billing services, pharmaceutical companies, community health information systems, health insurers medical service providers and employer sponsored health plans.
Each country, and in many cases, some cities and states, will have their own data privacy regulation in place to protect the personal data of its citizens. Other laws, such as the GDPR, cover the entirety of the European Union, and take precedent over individual privacy laws in that country.
Understanding the risks of exposing the PII of its citizens to unauthorized parties, more and more government agencies apply privacy safeguards to educational, statistical, tax, and many other types of data.
