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Compliance Challenges That Businesses Are Going to Face In 2021

By April 16, 2021No Comments5 min read
Compliance Challenges That Businesses

Businesses have faced many challenges in 2020. However, business challenges in 2021 will be a little bit familiar. Compliance issues will haunt companies again this year. Regulations are going to increase this year. Companies also need to deal with new challenges thrown by Covid-19. There is also a potential Brexit deal that can affect the world. In this article, we are going to talk about the top compliance challenges that your business will be facing in 2021. Also, we will share some tips that will help you in dealing with compliance challenges.

  1. The issue with the privacy shield

The CJEU which is the European Union court has recently ruled that the US laws are not providing enough protection. They are not protecting the EU’s personal data. Thus, this ruling is going to impact all the businesses that are running in the US. It will affect the businesses that are transferring personal data to the US or outside of the EU.

You should assess how your data is treated outside of the EEA or European economic area. It is important to deal with compliance issues as they can affect your business reputation. You should provide adequate protection to your customers.

Businesses should review all the data transfers. You should identify the countries where you are transferring your data. The recent judgment will force many companies to implement better security controls. EU has already created the GDPR compliance for protecting their citizen’s personal data.

  1. DSARs are increasing

Employees are working from their homes now due to the COVID-19. Thus, the data subject access requests are increasing with time.

The eCase data protection officers already stated that they are getting a lot of data subject requests. These officers are employed in government departments and public bodies. Thus, they know about the real situation.

The number of DSARs has increased after the introduction of the GDPR law. Most businesses are not ready for these requests. Make sure that you have a record of your retention policies. This will help you in taking the appropriate actions. All this should be done before you are hit with a rush of requests. Thus, you should first focus on creating your retention policy.

This situation has become complicated due to the Covid-19 pandemic. Sometimes disgruntled employees can cause damage to your business. They are already aware of the fact that DSAR can cause various issues.

  1. Brexit

The UK will finally exit from the EU in 2021. There are various factors that you need to consider. You need to deal with various scenarios that can come with Brexit.

Organizations should ensure that they know the flow of all the personal data that they are storing. They should understand where the transfer of personal data is going on. The UK government has already stated that companies don’t need to worry about restrictions on data transfers. You can freely transfer personal data from the UK to the EEA countries. However, they can also change their decision in the future.

You should start by checking if personal data transfers are taking place in your business. If you are transferring personal data, then you should work on implementing the best security controls. This will ensure that your data is protected from attackers. You should also check all your privacy documentation and information. This will help you in finding the changes that you might have made in past. Make sure that you are following the strict GDPR regulations.

  1. Data breaches

Most employees are working from their homes now. This has become a new working practice for companies. Employees were using personal devices for accessing data and applications.

Businesses relaxed their cybersecurity practices to facilitate remote working. They introduced new technologies for their employees. However, the usual testing was not done as companies didn’t have time to do testing.

Due to this, the number of data breaches has increased in the last year. Attackers were targeting new vulnerabilities that were present in the tools that facilitate remote working. You should conduct risk assessments for maintaining the level of your security compliance. Make sure that you are processing gap analyses for identifying the risks that are present in your network.

According to a report from Tech Target, it takes more than 200 days just to identify a data breach. You can’t protect your data if you don’t know about the data breach. Attackers are also testing the new business processes that companies are using.

Many companies have been attacked by the attackers and they still don’t know about it. Thus, you should assess the damage that is done to your business. It is important to find vulnerabilities in your network. This will help you in dealing with a data breach. Make sure that you are using the best security tools for dealing with these vulnerabilities. Experienced MSSPs like Bleuwire can help you in this process. They will help you in finding the vulnerabilities that are present in your network. Also, they will perform penetration testing. This will help you in testing the vulnerabilities that are present in your network. Thus, you will know about all the vulnerabilities that are present in your network. Bleuwire will help you in fixing all the vulnerabilities. Thus, you don’t need to worry about a data breach.

Conclusion

2020 was a year of unexpected challenges. However, we might understand the challenges that we will face in 2021. These are the 4 main areas that can affect your business. Compliance is going to be a big issue for companies in 2021. Make sure that your business is protected from attackers. Experienced MSSPs like Bleuwire can help you in dealing with this issue. They will help you in finding vulnerabilities in your network. Thus, you don’t need to worry about hiring any security professionals. Bleuwire will help you in fixing all the vulnerabilities that are present in your network. If you need more information regarding IT security services, then you can contact Bleuwire.

Contact us today to learn about Bleuwire™  services and solutions in how we can help your business.

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