Data privacy has become the expectation for every consumer across the globe, becoming more than a set of rules and regulations driven by compliance standards, but rather one of the primary pillars upon which customer loyalty and brand recognition stand upon. Gartner predicts that by 2023, 65% of the world’s population will have their personal information covered under modern privacy regulations, up from 10% today. With the focus now on cost optimization, many organizations are looking for ways to consolidate and reduce compliance efforts for all non-revenue programs like privacy. The pandemic has provided several challenges to the workplace, forcing companies to quickly adapt. A continuously-developing pandemic, a majority of people working from home, and new data privacy laws regularly – all indications that 2021 will be a huge year for data privacy. BOOM! Integrated, hybrid data platforms will transform the power of cloud apps. These privacy-based technologies and tools (e.g., homomorphic encryption, obfuscation, de-identification, etc.) January 28, 2021. in Data, Infrastructure, Software & Applications. As seen above, data privacy regulations are spreading both nationally and internationally. Integrated, hybrid data platforms will transform the power of cloud applications and start delivering … With the growing momentum towards regulations and harsher penalties for noncompliance, we’ll see more organizations start to incorporate privacy frameworks to help them manage compliance in 2021 and beyond. Data Privacy Trends in 2021: Compliance with New Regulations. Companies began the year rushing to comply with the California Consumer Protection Act (CCPA). Since 2007, Jan. 28 has been known as International Data Privacy Day, observed in Europe as Data Protection Day. In a highly disruptive ruling, the Court of the European Union (CJEU) dismantled the Privacy Shield agreement between the European Union (EU) and the United States in July 2020. Organizations will have to juggle the complexities of what this past year has brought, while also preparing for the year ahead, meanwhile providing their customers and employees with the transparency that is being demanded. Commentdocument.getElementById("comment").setAttribute( "id", "a999af25a7989946bde5cb7e60cad915" );document.getElementById("jdafd4482c").setAttribute( "id", "comment" ); Save my name, email, and website in this browser for the next time I comment. Now, many are looking ahead to a year filled with uncertainty, strict regulations, and more change. WordPress Download Manager - Best Download Management Plugin. But the changes to the consumer and corporate worlds that we saw in 2020 will have immediate and long lasting echoes in … How can you keep up? Top Data Integration Trends in 2021. This will help shift the focus from short-term leads to long-lasting trust and brand value. By 2021, Gartner estimates that roughly 70% of organizations will integrate automation technologies to increase employee productivity, and that by 2022, privacy-driven spending on compliance tooling will increase to more than $8 billion worldwide. It was already arguably the most changeable, fluid and impactful board issue, and also one of the least well-understood. Many big firms like Facebook and Google have already extended their work from home policies until at least Summer 2021. Spotlight on Recent Decisions 2021. Even the recently approved California Privacy Rights Act (CPRA) looks to further increase an organization’s responsibility for how third parties use, share, or sell personal information. MORE STRINGENT VETTING ON COLLABORATION APPLICATIONS Data privacy, privacy management, digital privacy, data protection – the list goes on when it comes to data privacy and protection imperatives. This takes place around the globe in an international effort to empower and encourage individuals and businesses to … Companies can take advantage of standard contractual clauses (SCCs), binding corporate rules (BCRs), and derogations, but currently these are not long-term solutions. The Information Commissioner’s Office (ICO) has already seen a 50% increase of data protection complaints since the introduction of the GDPR with over a third related to Data Subject Access Requests (DSARs). Companies that fail to protect consumer data will lose the trust of their customers and drive them to seek another company where they feel more comfortable sharing their personal information. Three privacy-related trends will underpin this transition: 1) an ever-increasing appetite to collect, process, and share sensitive personal data from consumers and employees; 2) despite the recessionary economy, values-based consumers will … Integrated, hybrid data platforms will transform the power of cloud applications and start delivering … He advises clients on matters related to advertising technology, privacy, data breach management, and FTC best practices. Marketers should embrace data privacy and not view it as an obstacle. Netwrix and Stealthbits merge to better secure sensitive data. Facebook has already been ordered by the Irish Data Protection Commission (IDPC) to stop data transfers between the US and the European Union. A largely remote workforce has caused companies to monitor their employees in new ways, pushing employee privacy concerns to the forefront. In 2021, businesses will use data privacy to build consumer trust and can even improve data processing efficiency. Focal Point is not a licensed CPA firm. 0. 5 1. Year 2020 saw a number of significant developments around data privacy legislations around the world. Farrah holds a Bachelor of Science degree in Industrial Engineering from Rutgers University. New data privacy laws are being proposed at a dizzying pace in 2021. Learn about the latest trends in privacy legislation and compliance requirements that can affect your organization. Anusuya Datta - 01/18/2021 4 Minutes Read. As companies look to transition to a new normal in 2021, Forrester has forecasted that data privacy matters will become more pressing, while potential budgeting issues and evolving international relations are set to impact cyber security professionals. However, we are pleased (as data subjects and consumers) that the GDPR served as a stepping stonefor other governments to revisit their regulations and laws regarding data privacy in an effort to create one cohesive national law on governing privacy and security. Organizations are collecting health data on both employees and consumers to support public health outcomes, causing a growing concern in how this data is being used. With the future unknown on a legislation that covers these data transfers, companies will continue to face data transfer challenges in 2021. The phrase “Data is the new oil” was coined considering the growing importance of personal and organizational data. Recently, California approved of the California Privacy Rights Act (CPRA), which will further increase the data protection regulations of the California Consumer Rights Act (CCPA). Many companies had to strengthen their virtual private networks (VPNs) to better secure this surge of remote workers. You can unsubscribe at any time. Visit the partner portal or register a deal below! To keep pace with the ever-changing regulatory landscape in 2021, more companies will start to invest and integrate privacy-enhancing technologies into their compliance programs. Since joining Stealthbits in 2012, Farrah has held multiple technical roles, including Scrum Master and Quality Assurance Manager. As each new regulation is passed, it is easy for companies to feel overwhelmed with compliance efforts and consumer requests for personal information. Data privacy legislations in 2020 and trends to watch out for in 2021. January 28, 2021 0 Comments. In response to the privacy allegations against TikTok, China unveiled a new data security initiative they believe could serve as a global standard for data security. The CJEU determined that the adequacy agreement failed to protect the privacy of its citizens’ data. From the CCPA to the GDPR, keeping up with new and existing global data privacy regulations can be a challenge. In a turn of events that no one could have predicted, 2020 has become a year for the history books. The COVID-19 pandemic has had a major impact on data privacy and cybersecurity as a whole with the heightened focus on social distancing impacting both personal and professional aspects of life for most people. The introduction of various data privacy regulations around the globe gave consumers more control over their data. Companies that fully embrace these changes will be better prepared going into 2021 and create a more secure and safe data privacy landscape. Nine Data Privacy Trends to Watch in 2021, he Court of Justice of the European Union (CJEU). failing to protect the privacy of its citizens’ data. The only constant in life is change, and 2020 was a year filled with it. It will be extremely important for transparency in order to build and maintain an environment of trust. In addition, by utilizing these privacy-based technologies, organizations can set up workflows that combine project management with compliance, increasing team collaboration and communication and centralizing privacy and risk management functions. Data privacy has changed rapidly in the last 12 months. In the age of social media, amongst the tweets and TikToks, consumers are more aware of what applications could access and are now demanding privacy more than ever. 2021 will be a year of transition. Organizations will have everything to gain by ensuring the proper protection of PII in order to maintain customer loyalty. All rights reserved. Cybersecurity mesh is a distributed architectural approach to scalable, flexible … Not only will data privacy regulations continue to evolve, but so will privacy risks, complications, and technologies. Data privacy has become the expectation for every consumer across the globe, becoming more than a set of rules and regulations driven by compliance standards, but rather one of the primary pillars upon which … Although businesses began to reopen and employees started returning to work, there has been an overall shift towards keeping a more permanent remote work solution. As businesses consider how to approach data privacy amidst the ‘new normal’ of 2021, Pedro Martins shares some projected trends and predictions for the year ahead. In today’s interconnected world, practically all organizations depend on third-party service providers or vendors to operate efficiently. The phrase “Data is the new oil” was coined considering the growing importance of personal and organizational data. Download the 2021 Data Protection Trends report to learn about today’s data protection impact, costs and benefits with key insights from industry experts. Thousands of companies then had to quickly find an alternative data transfer method that adequately protects personal data across borders. For these reasons, we’ll likely see a heavy focus on third party risk management in 2021 as businesses become more critical of their third-party relationships to prevent any potential risk to their organization. The decision by the European Union in October 2020 means that EU privacy rules have jurisdiction over national security rules anywhere else. Case in point, this survey had 259 Healthcare institutions, which is enough to do a whole separate (and statistically definitive) “Data Protection Trends in Healthcare in 2021” report. ! Data Privacy Trends to Watch Out For in 2021. As communities, consumers, and businesses leave the pandemic behind, they will embrace a new normal. So, what changes can we expect in 2021, and will these become the new normal for privacy? The only constant is change, especially when it comes to technology. While businesses were forced embrace a new normal this past year, 2021 will continue to be a year of transition. The number of data privacy regulations across the globe continues to increase year over year, with new regulations like India’s Personal Data Protection Bill which is in the pipeline after having been delayed in 2019. For International Data Privacy Day, we asked one of our experts here at Progress about data privacy trends for 2021 and beyond. Ransomware's rise makes data availability increasingly important. 2020 has shown us that Data Privacy goes deeper than regulatory requirements. Leading the way with the GDPR, the European Union has shown how it can be done withcreating a framework where organizations can take responsibi… The Delaware Superior Court recently dismissed a healthcare data breach lawsuit against Brandywine Urology Consultants (“Brandywine”) because it ruled that the victims of the breach failed to provide evidence of injuries or losses caused by a 2020 security incident and, therefore, lacked standing to sue. However, by 2023, those companies that do earn and maintain digital trust with their consumers will see a 30% increase in their digital commerce profits compared to their competitors. But, with employees scattered across states, time zones, and offices, organizations will start to utilize the benefits of a fully (or even partially) remote workforce and start adopting long-term plans in 2021. Many organizations and industries responded to COVID and leveraged the cloud differently, and that affects their data protection strategies. With large scale data breaches like the one at Equifax and ClixSense exposing the personal information of millions of people, consumers are growing more concerned about their privacy and are willing to act to protect it. One of the biggest shifts in data protection and privacy in 2020 will continue to rumble on in 2021, as the aftershocks of Schrems II will still be felt. Ultimately, this will result in more frequent exploitation of home computers and networks, requiring organizations to invest heavily in security. In order to manage the growing expectations of both compliance standards and consumer base, maintaining data privacy at scale is almost impossible without a plethora of co-existing technologies used to automate the key processes. Date Published: 26 January 2021. Fortunately, taking advantage of innovative automation technologies and leveraging industry-recognized frameworks like the NIST Privacy Framework can help. While most data security strategy … Even well-known companies like General Electric, Instagram, and T-Mobile have suffered from a third-party data breach in the past year, exposing thousands of records. But now, over 81% of business leaders are feeling pressured to lower overall costs. can fill various data governance needs, including automating compliance processes, creating advanced data mapping services, and even reviewing and fulfilling consumer requests. As consumers continue to demand the protection of their personal data, and data privacy violations continue to make headlines (like with the video sharing app TikTok), countries around the world will likely either strengthen existing regulations or issue new standards to address these concerns. Identifying the PII lurking in the depths of your unstructured data repositories has always been an issue, but now with the complexities introduced by remote work, this daunting task becomes even more difficult. Uncover critical credential and data risks today with Stealthbits! Browse our catalog of no-charge resource connectors, report packs, and more. Despite this dependency, only 35% of organizations consider their third-party risk management to be effective. With data-related regulations and cybersecurity concerns increasing, privacy is a growing board-level priority for insurers. Proper data security begins with a strong foundation. The top five European data protection trends for 2021 Freshfields Bruckhaus Deringer LLP European Union, Germany, ... Europe’s data privacy landscape is set to get even trickier, By. Privacy teams will now be required to navigate the regulatory landscape and defend against privacy risks with fewer resources than ever. At first, 65% of business leaders reported an increase in compliance budget costs to cope with the immediate changes brought on by the pandemic. With the long term changes brought on by the pandemic, along with new data privacy regulations on the docket, organizations are going to be faced with several security challenges, driving up the demand for talent. If companies are to fully transition to a more long-term remote workforce, compliance programs will need to be updated to protect against data storage issues, the increase in transfers of personal data, and the higher likelihood of a data breach due to phishing attacks. Data Security and Privacy jobs will be a #1 ask in 2021. Data privacy, privacy management, digital privacy, data protection – the list goes on when it comes to data privacy and protection imperatives. The ways in which data protection and privacy regulations will affect European businesses next year was the subject of a panel session during the Forrester Technology & Innovation Global 2020 virtual event.. Julian Archer, VP, principal analyst at Forrester, firstly discussed the more proactive role businesses can play in driving data privacy regulation. The speed at which this pandemic hit us all has led to a rush for security professionals to enable a remote workforce, leaving potential security holes as well as unprepared employees. Thursday January 28 marks Data Privacy Day, an international effort to empower individuals and encourage businesses to respect privacy, safeguard data and enable trust. Similar privacy bills were considered in at least 30 states and Puerto Rico this year as well, all the while making a federal bill in the U.S. much more of a possibility. While this pandemic seems to be the “new normal”, Data Privacy is the new expectation. Here are the nine key trends we believe will shape the world of privacy in 2021. Cybersecurity mesh. She is responsible for building and delivering on the roadmap of Stealthbits products and solutions. 4 Free Cybersecurity Awareness Email Templates To Use at Your Company, The 5 Most In-Demand Cybersecurity Jobs for 2020, The Future of Internal Audit: 10 Audit Trends to Prepare for in 2020, How to Get Started on the DoD's CMMC Certification, Business Continuity and Disaster Recovery, General Data Protection Regulation (GDPR), China unveiled a new data security initiative, 30% increase in their digital commerce profits, 50% increase of data protection complaints, fully transition to a more long-term remote workforce, Meet evolving data privacy regulations and laws, Achieve compliance while adjusting to changing requirements, Support compliance initiatives without duplicating efforts, Reduce costs and increase efficiency of the privacy program. Building trust through transparency is not a quick process, but doing so can be a key differentiator, especially since the global pandemic has disrupted consumer buying habits. Many companies are also still transitioning their workforces and trying to adapt to the new business normal while still complying with regulations and reducing privacy risks. Focal Point Online Privacy Policy. Credential and Data Security Assessment (CDSA), 2017 Cybersecurity Recap & 2018 Predictions, WordPress Download Manager - Best Download Management Plugin. As the ideas and trends in data security evolve, some changes will be accelerated while others might get replaced. CAUTION - Before you proceed, please note: By clicking “accept” you agree that our review of the information contained in your e-mail and any attachments will not create an attorney-client relationship, and will not prevent any lawyer in our firm from representing a party in any matter where that information is relevant, even if you submitted the information in good faith to retain us. Copyright © 2019 Focal Point Data Risk, LLC. Suddenly in an economic crisis and employees working from home, companies were tasked with modernizing their infrastructure and protecting against privacy threats, while adapting their compliance efforts to keep up with regulatory requirements. More and more privacy frameworks are also creating requirements companies must follow when sharing consumers’ personal information with third parties. With the growing and somewhat permanent work-from-home culture and the growth in the collection of health information, people are generally concerned with their privacy and expect organizations to take notice. Working systems have to embrace the changes to run the show. “When it comes to regulatory compliance, [automation] can knock months or even years off your project time and reduce the risk of your organisation being in breach,” said Simon Spring, senior account director, EMEA … With 2021 set to present us with new challenges and ways of working, businesses need to prioritise data privacy now more than ever, resulting in arguably the most … Data Extraction Market was valued at $2.14 billion in 2019, and is projected to reach $4.90 billion by 2027, growing at a CAGR of 11% from 2021 to 2027. Data privacy a rising priority as sources, analytics keep expanding. #respectdata Click to Tweet Conclusion Though 2020 brought with it unprecedented challenges from a data privacy perspective, it was actually a better year than 2019 from a cost perspective. In addition, engaging other business functions like Audit and Security can help privacy teams evolve and adapt. While the U.S. lacks a substantial federal privacy law, if proposed state privacy laws pass, 57% of the U.S. could soon be covered. This could lead people to adopt a safer form of data privacy policies in 2021. Find out what you're standing on with a free deep-dive into the security of your Structured and Unstructured Data, Active Directory, and Windows infrastructure. Required fields are marked *. 2020 has left a lot for organizations to deal with as it pertains to Data Privacy, and 2021 will add to that list. Learn more about how Stealthbits can help achieve data privacy through data security through the following solutions: Farrah Gamboa is a Director of Technical Product Management at Stealthbits – now part of Netwrix. With data breaches being an average of $700,000 more expensive when a third party is involved and over 63% of breaches attributed to third party vendors, this type of an attack can be devastating to an organization. CIO Follow us About Us Beyond general data privacy legislation, the COVID-19 pandemic has created concern around privacy in virtual schooling environments and telemedicine.