Webinar recap: Data Privacy Trends & Predictions
We brought together three of the leading proponents of data privacy. The goal? Discuss trends and predictions driving the development of data privacy around the world. Our distinguished panel included Laura Clark Fey, a privacy law specialist with Fey LLC, Linda Tuck Chapman, CEO and President of Ontala Performance Solutions, and Stacy Scott, Managing Director of Cyber Risk with Kroll, a division of Duff & Phelps. You can watch the panel discussion here.
Here are some of the key takeaways from the discussion.
Crazy proliferation of data privacy laws
GDPR and CCPA are the data privacy laws most familiar to organizations. However, Clark Fey sees a much larger trend. She points out the crazy proliferation of data privacy laws globally.
“We’re now at the point of 107 data privacy laws around the world. Even countries you wouldn’t think of like Iran and Columbia have data privacy laws.”
Compliance isn’t the only challenge with so many privacy laws. Another big hurdle is in the near future when websites track data subject requests and company responses. Clark Fey believes regulators and plaintiff attorneys will frequently visit these websites for metrics on how companies are performing.
The convergence of privacy and security
Many observers see privacy and security converging. Panelists add clarity and commentary to this trend.
Tuck Chapman believes security and privacy are two sides of the same coin. You need security to drive technical processes that govern activities like managing inappropriate access and data leakage.
“Everything runs on tech, and it’s converging on a broader scale.”
Tuck Chapman also sees the big picture beyond privacy and security. “How do you manage operational and enterprise risk?”
Viewed this way, data privacy is an identified risk that permeates the organization and encompasses all third-party entities that process or store consumer data.
Honoring data subject rights takes back-office processing
Right behind compliance, a nagging concern for organizations is honoring data subject rights like access, portability, and deletion. How many will ask about their data subject rights? It’s anybody’s guess.
Scott’s view is that companies will increasingly realize that honoring data subject rights takes a lot of downstream processing to account for where data goes, how it’s stored, and accessed.
“Data privacy laws put the ownership of data in the hands of consumers,” Scott said. “It takes a tremendous amount of internal coordination on the company side to meet customer requests. It’s tough to estimate the volume of requests and have processing in place to honor each request efficiently.”
Data privacy predictions for 2020 and beyond
All panelists have thoughts on what the future holds for data privacy.
Clark Fey spoke for the group when she says the US will not see a federal data privacy law anytime soon. She also points out a California influence on any federal legislation on data privacy.
“20 percent of Congress is based in California. They won’t vote for a federal data privacy law that offers less protection of Californians.”
Tuck Chapman predicts new risks emerging from 5G, the fifth generation of wireless technology, and cryptocurrencies. Third parties are building the infrastructure for 5G that uses cell sites stored in small areas like manhole covers and lamp posts and sends encoded data through radio waves.
“5G hardware can be a security risk,” Tuck Chapman said. “Imagine a lamp post getting hacked.”
With a background in finance, Tuck Chapman also envisions cryptocurrencies rushing into banking services and creating risks from a lack of due diligence.
Scott predicts more state laws on data privacy with specific requirements around third parties, list data, and data handling.
Data privacy is on the minds of many company executives and boardrooms. These trends and predictions indicate swift undercurrents will influence how organizations comply, manage risk, and adjust processes to meet new data privacy mandates. Watch the webinar for additional insights on data privacy trends and predictions from our esteemed panel.
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