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Banks and financial services providers need to understand what legislation and regulations are in place to cover the privacy and security aspects of behavioral biometric technology.
When it comes to compliance and data privacy, ignorance is not bliss. Today’s businesses must be aware of the regulations that govern them or risk incurring significant, potentially crippling penalties.
Despite costly fines and an increasingly-regulated environment, organizations of all sizes are not fully prepared for compliance with data privacy and data protection regulations like the GDPR.
The United States and the European Commission have reached a deal in principle regarding the transfer and storage of European data on U.S. soil. Data privacy experts warn that the commitment may be too vague to maintain cybersecurity standards.
Data privacy legislation has popped up across the United States, largely regulated by individual states. The California Privacy Rights Act (CPRA) has wide-reaching effects for U.S. enterprise organizations.
Meta has been fined $18.9 million by the Irish Data Protection Commission for Facebook’s 2018 data breaches that violate data security and privacy, according to the European Union’s General Data Protection Regulation (GDPR).