FORMITI’s Post

🚀 Navigating the Maze of State Data Privacy Laws: A Strategic Guide for U.S. and International Companies As we step into 2024, the landscape of state data privacy laws in the U.S. continues to evolve rapidly, presenting a complex challenge for businesses globally. In our latest article, we delve into practical strategies to help your company not only comply with these diverse regulations but also to excel in data governance. 🔍 Key Takeaways: Data Mapping: Essential for identifying new compliance requirements. Privacy Policies: Must be updated regularly to reflect changing laws. Opt-Out Signals: Implementation in additional states by 2024. DPIA: Conduct and update assessments as required by law. AI Regulation: Understand, manage, and communicate about your AI tools ethically and transparently. 👉 Read the full article for a deeper insight and practical steps on how to navigate this complex regulatory environment effectively and ensure your business remains ahead of compliance challenges.  https://lnkd.in/emfBux9Z #DataPrivacy #Compliance #AIRegulation #PrivacyLaw #CorporateGovernance #Leadership #BusinessStrategy

The European Union is blazing a trail in digital regulation, covering everything from privacy to AI development. Its policies on dominant tech platforms and online content moderation could soon set the standard for the rest of the world. Businesses of all sizes, from local startups to global corporations, must adapt to the EU's ever-changing compliance requirements. Stay informed and stay ahead of the curve with the latest updates from First Law International on the #europeanunion #regulation #privacy #artificialintelligence.

On any given day, a business needs to navigate a dense jungle of tangled consumer privacy laws, and anyone who manages corporate governance, risk, and compliance knows how excruciatingly difficult this can be. But my new blog post offers a solution: GRC teams can apply generative AI and tools such as Microsoft Purview to anticipate and respond to changing privacy regulations. Please visit the link below for more insight. #GenAI #GRC #ConsumerPrivacy #AI #Microsoft  https://lnkd.in/eXQux6gU

Data Protection - the subject everyone loves to hate. When it comes to data protection and GDPR, things are always evolving. Organisations are really starting to focus on enhancing their data privacy practices. Here are a few key trends and updates: 1. Increased Enforcement: Regulatory bodies, including the UKs ICO, have ramped up their enforcement actions. More companies are facing hefty fines for non-compliance, which has made everyone sit up and take notice. 2. Privacy by Design: This is a principle enshrined in the GDPR and UK Data Protection Act and businesses are increasingly adopting 'privacy by design' principles, meaning they’re integrating data protection measures right from the get-go in their processes and products. 3. Data Subject Rights: There’s a stronger emphasis on the rights of individuals (like the right to access and the right to be forgotten). Companies are making it easier for people to exercise these rights, which is a good move toward transparency. The problem comes when companies receive a data access request from a member of the public or a client and find they have no idea where all the relevant data might exist. We have a solution for that (https://lnkd.in/eqcPHDs7). 4. Cross-Border Data Transfers: Do you conduct business beyond the UK border? With all the discussions around international data transfers post-Schrems II, many companies are still figuring out how to navigate those waters without running into legal issues. 5. AI and Data Protection: With AI becoming more prevalent, there's a growing conversation about how it intersects with privacy laws. Companies are looking at how to ensure their AI systems comply with GDPR while still being innovative. The EU AI act is imminent and will be the first enforceable piece of legislation. 6. Employee Training: More organisations are investing in training their staff about data protection principles and practices, acknowledging that human error is one of the biggest risks. Overall, it seems like a more proactive approach to data protection is becoming the norm, which is definitely a step in the right direction! If you’re curious about anything specific, just let me know. #DataProtection #GDPR #PrivacyByDesign #DataPrivacy #DataRights #EnforcementActions #ComplianceMatters #RegulatoryCompliance #DataProtectionAct #DataBreach

Welcome news for small businesses! The ICO has just launched its very own AI privacy notice generator. It is hoped that this will assist small businesses in meeting their data privacy obligations under the UK GDPR. Read more below: #commercial #commercialandtechnology #dataprivacy #dataprotection #commerce #technology #AI #artificialintelligence

What are the most recommended practices for drafting a GDPR-compliant privacy policy? A well-drafted privacy policy not only ensures transparency but also helps build trust with your users. Here are some key points to keep in mind: 1.    Organizations processing personal data: A privacy policy should clearly communicate who is collecting and processing the personal data and who will further process the data. Organizations stating ‘may share the data with third parties’ is incomplete and open-ended as per GDPR. When you are processing personal data, it is your responsibility to inform the data subjects about who you are and which role do you play in the processing of personal data. 2.    Categories of personal data: A privacy policy needs to be very clear about the specifics of data being collected (Name, email address, mobile no, IP address etc) or the categories of the data being collected. 3.    Grounds: Specifying purpose of collecting personal data is one most important principle of GDPR. It should also inform the users about when the data has been collected from a third party and specify the legal basis of processing such data. 4.    Data subject’s control : According to article 15 of GDPR, data subjects has the right to confirm whether their data is being processed or not. If their data is processed then they can request the following information: ·      Purpose of processing ·      Types/categories of personal data is processed ·      The right to restrict/control processing of personal data ·      The third party entities to whom the data is being disclosed including different countries All this information has to be specifically clear in the privacy policy in a clear and understanding manner for data subjects. 5.    Safety of personal data: Here organizations need to mentioned whether they are taking adequate measures to ensure the safety of personal data of data subjects. Organizations need to take few important steps such as pseudonymization and encryption measures [Article 25 and 32], logging all activities related to data subject’s personal data [Article 30], ensuring safety of personal data when processing takes place outside the EU [Article 3]. This section of privacy policy should adequately explain about technological and organizational measures taken by data controller. 6.    Retention: This section talks about the time period for which the data will be stored or the criteria on which the data will be assessed. Such information needs to be clear in privacy policy along with the statement of deleting personal data when the retention period is over. #GDPR#Compliance#Tech law#privacy#dataprivacy#law

How can tech companies innovate while ensuring they adhere to strict privacy regulations? In an age where consumer data protection is paramount, technology firms face the dual challenge of fostering innovation and complying with stringent privacy laws such as the EU’s General Data Protection Regulation (GDPR) and the California Consumer Privacy Act (CCPA). These regulations are designed to give consumers greater control and insight into their data and ensure that the businesses that collect it protect any information shared. 🔒 But how do tech companies navigate these requirements without stifling innovation? A discussion among 20 members of the Forbes Technology Council shed light on this very question. They shared valuable strategies for balancing the pursuit of new technologies with the necessity of ensuring data privacy and compliance—a balance crucial for continuous growth and effective customer service. What are your thoughts? How can companies best manage this balance between innovation and compliance? https://lnkd.in/eggXtd3f #DigitalTrust #DataPrivacy #DataCompliance

Data Protection - the subject everyone loves to hate. When it comes to data protection and GDPR, things are always evolving. Organisations are really starting to focus on enhancing their data privacy practices. Here are a few key trends and updates: 1. Increased Enforcement: Regulatory bodies, including the UKs ICO, have ramped up their enforcement actions. More companies are facing hefty fines for non-compliance, which has made everyone sit up and take notice. 2. Privacy by Design: This is a principle enshrined in the GDPR and UK Data Protection Act and businesses are increasingly adopting 'privacy by design' principles, meaning they’re integrating data protection measures right from the get-go in their processes and products. 3. Data Subject Rights: There’s a stronger emphasis on the rights of individuals (like the right to access and the right to be forgotten). Companies are making it easier for people to exercise these rights, which is a good move toward transparency. The problem comes when companies receive a data access request from a member of the public or a client and find they have no idea where all the relevant data might exist. We have a solution for that (https://lnkd.in/e53C5x2r). 4. Cross-Border Data Transfers: Do you conduct business beyond the UK border? With all the discussions around international data transfers post-Schrems II, many companies are still figuring out how to navigate those waters without running into legal issues. 5. AI and Data Protection: With AI becoming more prevalent, there's a growing conversation about how it intersects with privacy laws. Companies are looking at how to ensure their AI systems comply with GDPR while still being innovative. The EU AI act is imminent and will be the first enforceable piece of legislation. 6. Employee Training: More organisations are investing in training their staff about data protection principles and practices, acknowledging that human error is one of the biggest risks. Overall, it seems like a more proactive approach to data protection is becoming the norm, which is definitely a step in the right direction! If you’re curious about anything specific, just let me know. #DataProtection #GDPR #PrivacyByDesign #DataPrivacy #DataRights #EnforcementActions #ComplianceMatters #RegulatoryCompliance #DataProtectionAct #DataBreach

Building innovative tech while complying with privacy regulations requires strategy and careful planning. In a recent Forbes piece, experts, including Thomas Robinson from Domino Data Lab, offer wisdom for balancing innovation with data privacy. His advice: a multicloud storage strategy, enabling compliance with diverse data sovereignty laws while fueling innovation. Discover how this approach can transform your #AI initiatives: https://lnkd.in/g3JGDrug #DataPrivacy #Innovation #TechCompliance