Encryption-as-a-Service Portal Provides Solutions in Time for New Regulations
IRVINE, CA, UNITED STATES, October 21, 2019 /EINPresswire.com/ — The Jan. 1, 2020, deadline approaches quickly, and many companies remain unprepared to meet key requirements of the California Consumer Privacy Act (CCPA). Around half of U.S businesses, service providers and third parties have yet to put “reasonable” data security measures in place to satisfy the act’s sometimes-vague regulations. The experts at Secure Channels Inc. shed light on what covered companies can expect after the deadline, and provide solutions that will help protect them from the act’s heavy penalties.
The CCPA, dubbed “America’s GDPR” by PricewaterhouseCoopers (PwC), was modeled after the EU’s General Data Protection Regulation. The GDPR strictly regulates and sets penalties for organizations anywhere in the world handling and failing to protect EU citizens’ data. The CCPA likewise holds accountable companies anywhere handling the personal data of the most populous state’s residents.
“One need only look at the penalties the GDPR has set out so far to see where CCPA is headed,” notes Secure Channels CEO Richard Blech. “This past July they hit two companies with a combined $350 million in proposed fines for data breaches. This happened within a two-day period.”
Blech refers to the penalties the GDPR intends to levy against British Airways (183 million) and Marriott (99.2 million) announced July 8 and 9 respectively. Marriott’s violations stemmed from IT failings of a hotel chain they subsequently purchased, inheriting its liability, while a hack against British Airways redirected customer data from the company’s website to an unauthorized party. “In BA’s case, there was no financial loss to any customers exposed by the breach, but the failure to protect the data alone may result in the largest GDPR fine to date — second largest breach fine in history,” Blech points out. “The CCPA is the same kind of beast. Affected consumers will be able to sue companies under the regulations without having to prove financial harm.”
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