Becoming GDPR-compliant is a great first step. Your organisation's responsibility, however, is to observe the international regulation changes regarding data sharing and third-party access. In today’s market, that means meeting the compliance requirements of Schrems II. Why should this matter to your organisation? And how does it impact your data protection efforts? Read on to find out.
Prior to the ruling, EU-US data transfers were protected by something called Privacy Shield, which was designed to be compatible with GDPR. This allowed thousands of businesses to transfer data from the EU to the US quickly and easily.
But given the actions of the US government and Facebook, the Court of Justice of the European Union deemed the EU-US Privacy Shield invalid—meaning that organisations would now need to adhere to an entirely new set of rules before transferring data between these two territories.
The ruling also had implications for data transfers from the EU to other regions. GDPR-compliant organisations are now required to undertake a risk assessment every time they transfer data from the EU elsewhere. They must also protect their data from third-party access with measures like encryption, anonymization or pseudonymisation of data.
Given the complexity of undertaking a risk assessment and deploying safety measures every time you transfer data, Schrems II could have a detrimental impact on your efficiency. This is especially true if any of your colleagues work from non-EU countries, and sharing data with them is an everyday part of your operations.
Schrems II requires you to understand the intricacies of who is accessing what, where, and for what purpose. But how can you possibly achieve that level of control over your data?
With the right data security platform, you’ll be able to secure, control, and precisely monitor data exchange between territories—at scale. If you choose one that also has a bullet-proof cross-border compliance framework, you’ll be able to share data knowing that both the protected and unprotected data are reaching the right eyes.
In the age of Schrems II, solution flexibility is another crucial component. If your business has entities in both EU and non-EU territories, your technology will need to be capable of enforcing multi-policy data management that can be customised to comply with local regulations in every region. Naturally, your data protection solution will also need to offer breach-proof tokenization and encryption. When comparing platforms, compliance teams should assess platforms based on their ability to provide:
Protegrity offers all of the benefits mentioned above, and more—including role-based access that makes your data simple to access in the right hands, and almost impenetrable in the wrong ones. Our solutions are constantly updated too, so you can stay compliant with the ever-evolving regulations.
Schedule a demo to find out exactly how we can help you today!