Industry Insights: Data Backup Compliance and Regulations for The Tech Industry
In light of recent high-profile cyberattacks and data leaks, governments worldwide are now taking action to safeguard user data, ensure fair competition, and uphold the integrity of digital spaces.
But what does your tech business need to know about data backup compliance and regulations?
Let’s find out!
Understanding the Regulatory Landscape
With new technology emerging almost daily, stringent regulations and compliance are more critical than ever. The past year has seen a surge in cyber threats, with ransomware attacks and phishing incidents targeting major corporations, government databases, and even small businesses.
As a result, international authorities have recognised the need to implement cybersecurity measures that will help protect sensitive data and reduce the impact of cybercrimes.
For example, in recent months, we’ve seen a significant emphasis being placed on regulations surrounding:
- Data privacy
- Artificial intelligence (AI)
- Cryptocurrencies (particularly cryptoassets regulation)
- Cross-border data transfer
- Consumer awareness and protection
The Role of Data Privacy Regulations
While terms like GDPR are now firmly on the radar of most established tech companies, building an effective compliance strategy is still something many businesses are struggling to master.
However, with data privacy and protection regulations designed to safeguard individuals’ personal information — compliance is now non-negotiable. This means it’s up to every individual business to ensure data is collected, processed, and stored in a manner that respects user rights and maintains data integrity.
To achieve this, we recommend:
1. Only store data for as long as you need
In a time where targeted attacks and data breaches can cause significant damage to your business reputation, holding onto information longer than necessary can be a risky (and non-compliant!) move.
To embrace a data retention strategy that matches regulatory requirements and protects sensitive data belonging to your business and stakeholders, we suggest that you:
- Determine the primary purpose of the data you’re collecting
- Set a reasonable and defensible retention timeframe (based on the data’s primary purpose)
- Stay up-to-date on current retention regulations
- Educate employees about correct data handling and compliance procedures
- Conduct regular audits to remove obsolete data
- Employ secure disposal techniques to prevent unauthorised access after deletion
2. Treat all data with the same level of respect
When it comes to data privacy, it can be difficult to know which type of data needs to be safeguarded by law. To combat this issue, integrating privacy considerations across all aspects of your company’s data handling will help ensure your tech business doesn’t get caught out.
For reference, the best data handling practices should include:
Collect only the information necessary for your business processes to reduce the risks associated with breaches and ensure compliance with data protection regulations.
Restrict access to sensitive data to only those who require it for their roles. It’s also good to leverage dedicated (and reputable!) cloud storage providers offering protection measures beyond what your own server can provide.
Be sure to keep software, applications, and security protocols up to date to address vulnerabilities and protect against cyber threats.
Incident response plan
Develop a comprehensive plan to address data breaches or attacks against your business. Outline steps to identify, contain, mitigate, and report violations while complying with legal requirements.
3. Operate a transparent consent management policy
Consent lies at the heart of data privacy regulations. This is why obtaining explicit permission from individuals when collecting their data for any purpose is essential.
Transparent data collection includes:
- Clearly communicating the purpose of the data collection
- Being open about the scope of its use
- Ensuring individuals know how long their data will be stored for
- Making it easy for individuals to withdraw their data at any time
- Making your privacy policies fully accessible and transparent
Trust BackupVault with your data compliance needs
In the fast-paced world of data regulations, BackupVault can be your reliable data backup partner for compliance. Our cutting-edge data backup solutions offer not only secure cloud storage but also peace of mind.
With advanced encryption, automated data management, and secure storage policies, our solutions align perfectly with tech industry regulations.