IT Compliance : focusing on data privacy and control of assets

Today the whole world has immediate access to information of different types, which are stored in large databases through computer systems and the internet. Thus achieving new techniques for sharing, processing and storing data in real time it has become a necessity for organizations and companies.

Companies have new forms of data processing (including personal data) and has increased the possibilities of generating new services or products according to people’s needs, but it has also introduced new threats and challenges, such as: lack of control and transparency, possible treatment and reuse of data, creation of profiles, automated decision making, among others.

Technological innovation is great; however, when it is use to affect people’s privacy, it is wrong. Multiple benefits are provided to organizations and societies which are unquestionable. These advantages are accompanied by the responsibility of making the correct use of information assets and compliance with the established regulatory framework.

Note that many countries have developed and maintain a normative-regulatory framework on the protection of personal data or privacy, for example. Large software companies are enforcing the audit clauses which it requires a proper control of assets. An inappropriate use of these personal data or breaching the control of assets will cause damages or impacts that can be sanctioned, ascending to fine and penalties.

Organizations must be cautious and efficiently structured the way they work with and from technology. As an example, the introduction of Artificial Intelligence (AI), cloud services, home automation, among many other challenges, force organizations to be involved in the digital transformation.

The relationship is between what can be done technically and what it really has to do and what is allowed (regulated by laws or industry regulations) is presented. On one hand, there are threats, multiple and very diverse changes and new challenges all the time. On the other hand, controls are very necessary to mitigate and understand the purpose and operation of the organization from an IT environment.

The legal provisions that imply obligations in the technological field are increasing, which is why it is necessary to design a solid IT Compliance strategy that starts from the identification of assets to define the map of risks and vulnerabilities that allows knowing and planning the controls to be implemented that lead to minimizing the risks of non-compliance, thus seeking a process of continuous improvement.

IT Compliance is defined as a process of compliance with current regulations applicable to data, information, systems and business processes to ensure that digital assets and activities comply with existing laws and regulations. In addition, it provides a basis for the tracking, analysis and monitoring of what is happening in the business environment, and allows organizations to implement policies and practices that align with the appropriate regulations.

For example, a compliance policy must have authentication, authorization and access control controls in order to prevent unauthorized and/or unwanted activities from occurring regarding what users can do, what resources they can access and what functions can do with the data.

Authentication confirms the identity of a user requesting access to data and/or systems, while authorization determines what actions an authenticated user can perform. Also, access control refers to a technique that ensures that only authenticated users can access information to which they have the right or permission based on the access level set. These three elements are closely related and the omission of even one of them can weaken the level of protection of the data, since authorized users could perform improper actions on the data. Need to establish internal prevention, control, management and reactive mechanisms are imminently necessary.

Concluding. It is necessary to establish an IT Compliance strategy that is attentive to changes in the digital world, that covers all the needs of the company by making correct use of user information and that becomes a tool of great value to avoid problems that could harm the interests of the organization.

Share

Related

UK Top Court Simplifies COVID-19 Business Insurance Payments

Every small businesses from restaurants to nightclubs and beauty...

The Entry of Big Data intothe Insurance Space

Big Data—a term that emerged to describe datasets whose...

A Fintech Experience like No Other

If we sit down and assess different elements of...

Migration to the cloud

Around October, I had the privilege of speaking at...

Alchemy Raises $200 Million in Series C1 Equity; Plans on Shaking up the Blockchain Game

As individuals, we must find our own way to...

Bringing Back an Old Automotive Avenue

The greatest thing about human beings is that we...

All EV Bets are On

We often talk about how human beings have come...

What technologies should insurers bet on in 2021?

This is not a usual time - and, as...

Life-Saving Invention

We live in a world that boasts versatility as...

Latest

No posts to display

No posts to display