Can your business afford to pay €20 million as the financial penalty for the breach of personal data?
Here are the few of the real-world challenges that we have learned over a decade of our customer interactions:
- Personal Data in Cloud: The responsibility of personal data is no longer lies with the principle only. Data in the cloud brings more risk to privacy and requires stringent control over storage, processing, and personal data disposal.
- Data Owner on Driving Seat: The laws and regulations are evolving to give the data owner more power and control over their personal information (like EU’s GDPR or California Consumer Privacy Act). Not only that, but also, they can request for disposal, ask for reasons for retaining their data, and if the organization is using personal data for intended purposes.
- Impact of Data Breach: The financial penalty for a personal data breach can reach up to €20 million (GDPR). The organization’s reputation can be at risk, and results can affect nations in the case of government-related entities.
Kinverg can provide advisory services to implement GDPR, ISO 27701 (Privacy Information Management), and CCPA (California Consumer Privacy Act) or any other applicable privacy related control mandate.
- Identification of Personal Data and Related Assets: Identifying and inventorying the personally identifiable (PID) data, associated assets used to store, process, and manage this data. Evaluating the all incoming and outgoing routes for the personal data
- Data Privacy Controls Assessment: Conducting a comprehensive review of existing data privacy controls assessment. Evaluating the privacy controls of third-parties (like Cloud Service Providers, Outsourcing Partners, etc.)
- Enabling DPO (Data Privacy Officer ) Role and Function: The DPO is the single point of contact for managing the overall.
We at Kinverg believe that the best of the methodology can fail if the right people are not working on it. We have some of the most experienced and qualified Consulting Team in the region with over 2000 hours of consulting work to their credit. Our team has GDPR / CCPA, CGEIT, CISA, CISSP, CEH, CISM, PMP, COBIT-5, ITIL and ISO-27001/ISO-22301 Lead Auditors certifications at their credit. They are regular speakers at international forums on IT Risk, Governance and Compliance.