27 May Privacy Laws to Follow to Avoid Losing Your Business
In the technological world, data security is a hot-button topic. This is where privacy laws come in. Everyone wants to make sure their data is safe from would-be Ne’er-do-wells. With all of our important, private information circling the internet it’s a valid fear. That’s why it’s especially important for companies to comply with privacy laws. Here are five privacy laws you must comply with or you risk losing your business.
5 Essential Privacy Laws Your Business Should Comply With
HIPAA stands for the Health Insurance Portability and Accountability Act. Anytime you go to the doctor or anywhere that asks for personal health information, you will be given a HIPAA sheet. This sheet says that the business will not share your health information with anyone you don’t give them permission to.
GLBA refers to the Gramm-Leach-Bliley Act. It is also known as the Financial Modernization Act. According to Digital Guardian, being GLBA compliant means financial institutions must tell their customers how they share their data, give the option to opt-out of sharing data with third parties, and they must have specific protections on customers’ private data.
Digital Guardian says SOX refers to the Sarbanes-Oxley Act. This act affects both financial institutions and IT services. It is meant to force companies to provide more accountability. On the IT side, corporations must save all business records for no less than five years. Breaking this law can result in fines, imprisonment, or both.
According to the Federal Trade Commission, COPPA is the Children’s Online Privacy Protection Act. It was created to help protect children while online. It limits what information companies can collect from children and requires parental permission to gather certain information from children under the age of thirteen.
ADA refers to the Americans with Disabilities Act. This act requires businesses to provide ways for people with disabilities to access information/goods.
It is important to regularly make sure your business is complying with these privacy laws. They do get updated periodically and Massachusetts, California, New York, and Maryland, are states that have new privacy laws. Also, if an American-based company does business in the EU or certain states via e-commerce they must also comply with GDPR and other state regional laws.
Data theft is a growing threat. The best way to remain proactive against such threats is to turn to managed IT providers like ACIS IT Solutions. If you have IT needs, contact us today for more information.