Panel Discussion: Data Protection by Design: Integrating Privacy & Security

“Data is the new oil” is an often-repeated statement today. The use, and in some cases misuse, of personal data is a global phenomenon. Securing and protecting data is one of the most important tasks at hand for organizations. This phenomenon is accompanied by a surge of data privacy regulations, increasingly adopted, and robustly enforced by various nations. In 2021, a US company has been hit by a record $886.6 million fine for breaching the GDPR. Additionally, the last two years have seen data protection mechanisms which companies operating in Europe rely upon the subject of seismic changes the ramifications of which will be felt for many years to come (Schrems II ruling, new SCCs, new approach to compliance with cookie rules, etc.).

Companies’ Data Privacy regulations leverage policy, process & technology to protect data within applicable legal and regulatory frameworks. However, implementation can be complex, and companies’ data privacy most often comes at the cost of business efficiency.

Companies are increasingly reaching for an approach, which integrates the principles of “Privacy by Design” and security. This “Data Protection by Design” approach requires effective use of policy, technology, and automation to ensure that data privacy goals are met within applicable regulatory and legal frameworks.