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Archiving data for US regulations while complying with GDPR

Archiving data for US

Financial institutions globally must comply with their local regulatory framework. In the European Union they must comply with the General Data Protection Regulation (GDPR), while companies in the US must adhere to the Financial Industry Regulatory Authority (FINRA) regulations.

The regulatory landscape poses a unique challenge for their archiving solutions of main vendors such as Global Relay and Smarsh. Being based in the United States, they are obligated to adhere to U.S. regulations requiring the archiving of all financial data. However, the GDPR prohibits non-European countries from accessing European data.

In this blog post, we’ll break down these difficulties and present AGAT’s effective solution to address the problem.

US vs. GDPR Data Archiving Requirements

In the United States, financial institutions have a responsibility to be transparent and accountable by saving electronic data. This ensures a reliable financial system that protects investors and follows regulations like those set by the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA)

At the same time, the General Data Protection Regulation (GDPR) created by the European Union (EU) aims to safeguard personal data. It focuses on privacy and security in our interconnected world. GDPR empowers individuals to control their personal information and sets strict rules for its use, storage, and sharing.

The Challenge of Archiving EU Data

Complying with the General Data Protection Regulation (GDPR) can pose complexities for these US vendors as it requires storing data exclusively within the EU or in jurisdictions that provide adequate data protection levels.

A significant development was the invalidation of the EU/US Privacy Shield by the Court of Justice of the European Union (CJEU) in the Facebook Ireland v Schrems (Schrems II) case. This highlighted the divergence in data protection approaches between the US and the EU, potentially exposing EU personal data to inadequate protection due to potential US government access.

The problem is generated when companies that have both American and European branches, like banks, investment funds or insurance companies, archive their data on popular platforms like Smarsh or Global Relay.

The nature of these companies being located in the US and thus, allowing non-european agents to have access to EU based sensitive data, signifies a violation of the GDPR data-privacy laws.

 The Solution: AGAT SphereShield’s Archive and eDiscovery for Microsoft Teams

AGAT offers a unique solution that surpasses the limitations of US vendors by providing an on-premise approach. 

With AGAT’s Archive and eDiscovery, data can be archived on local servers or VPS, which means that all the PII or other sensitive information stays within the borders of the GDPR jurisdiction.

As a result, European financial institutions or US companies with EU branches can achieve compliance with both US regulations and GDPR while maintaining full control over the data transfer process.

What is more, AGAT’s eDiscovery has the unique functions to search by both written and oral conversations through multiple parameters like participants, channels, text, dates and more.

 

AGAT Software Ediscovery

AGAT’s eDiscovery can be fully integrated with their DLP functionalities to avoid sensitive data being sent by text, files or even oral conversations

Conclusion

While many traditional archiving solutions fall short when addressing the needs of US companies having EU presence, AGAT steps in bringing an all encompassing on-premise solution that avoids the hefty fines of GDPR breaches.

Contact Us today to see how our innovative solution can streamline your data archiving process and ensure compliance with both US regulations and GDPR requirements.

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blog Ethical Wall Governance Microsoft Teams Security

The Future of Information Barriers: Emerging Technologies and Trends

The Future of Information Barriers Emerging Technologies and Trends

As the world continues to rapidly advance technologically, the way we handle information is evolving at an unprecedented pace. With the rise of digitalization and data-driven processes, safeguarding sensitive information from unauthorized access and misuse is becoming more critical than ever. In this blog, we will explore the future of information barriers and how emerging technologies and trends are shaping the landscape of data security.

Blockchain and Immutable Data Protection:

Blockchain technology is more commonly associated with cryptocurrencies, but its potential extends far beyond that. In the realm of data security, blockchain offers a revolutionary approach to protect sensitive information. By using a decentralized and tamper-resistant ledger, blockchain ensures data integrity and prevents unauthorized alterations. This technology could lead to a future where data breaches become significantly more challenging, as hackers would need to compromise an entire network of nodes instead of a single centralized server.

Quantum Cryptography and Unbreakable Encryption:

With the advent of quantum computing on the horizon, traditional encryption methods face the risk of becoming vulnerable to quantum attacks. However, quantum cryptography, based on the principles of quantum mechanics, presents a promising solution. This technology leverages the inherent properties of quantum particles to create unbreakable encryption keys. As quantum cryptography matures, it may become a staple in securing sensitive data against future computational threats.

Artificial Intelligence (AI) for Enhanced Data Monitoring:

AI and machine learning are already playing a significant role in cybersecurity. In the future, AI-powered systems will likely take on an even more prominent role in monitoring and enforcing information barriers. AI can analyze vast amounts of data to detect anomalies, flag suspicious activities, and adapt to new threats in real-time. These smart systems will work alongside human administrators to create a more proactive and robust defense against data breaches.

Zero Trust Architecture:

The traditional perimeter-based security model is no longer sufficient in today’s dynamic and remote work environments. The concept of zero trust architecture assumes that no user or device should be inherently trusted, regardless of their location or authentication. Instead, it emphasizes continuous verification and authentication of users, devices, and applications before granting access to sensitive data. This approach minimizes the risk of unauthorized access, especially in scenarios where employees access data from various devices and networks.

Homomorphic Encryption for Secure Data Processing:

Homomorphic encryption allows data to be processed without the need for decryption, ensuring data privacy throughout its lifecycle. This breakthrough technology enables secure data sharing and analysis, even with third-party entities, while maintaining data confidentiality. As homomorphic encryption becomes more practical and efficient, it will enable collaboration on sensitive data across industries without compromising privacy.

Privacy-Preserving Technologies:

Emerging privacy-preserving technologies, such as differential privacy and federated learning, aim to strike a balance between data utility and privacy. These techniques allow organizations to glean insights from large datasets while keeping individual data points anonymized. By preserving privacy, companies can share valuable data without exposing sensitive information.

The future of information barriers is being shaped by emerging technologies and trends that offer unprecedented levels of data security and privacy. Blockchain’s immutable ledger, quantum cryptography’s unbreakable encryption, AI-driven monitoring systems, and the zero trust architecture are just a few examples of the transformative potential these innovations hold.

As technology evolves, so do cyber threats, and it is essential for organizations to stay proactive in implementing robust data security measures. Embracing these emerging technologies, understanding their capabilities, and adapting them to specific use cases will be crucial in safeguarding sensitive information and maintaining the trust of customers, partners, and stakeholders in the digital age. As we move forward, a holistic approach to data protection will be necessary, encompassing not just the technology but also the processes, policies, and people involved in handling valuable information.

Do not hesitate to give your compliance capabilities a boost. Contact us and our team will show you a short demo of AGAT Information Barriers solution.

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blog DDoS DLP Ethical Wall guide

Key Strategies for Implementing a Robust Data Loss Prevention Program

Key Strategies for Implementing a Robust Data Loss Prevention Program

In today’s digital age, data is an invaluable asset for businesses and organizations. However, with the growing threat of data breaches, protecting sensitive information has become a top priority. A robust Data Loss Prevention (DLP) program is essential to safeguard data from unauthorized access, leakage, or loss. In this blog, we will explore the key strategies for implementing a robust DLP program to ensure data security and maintain customer trust.

Identify and Classify Sensitive Data:

The first step in creating an effective DLP program is to identify and classify sensitive data. Conduct a comprehensive audit of your organization’s data assets to determine what information requires protection. Sensitive data may include customer information, financial records, intellectual property, and proprietary business data. Classifying data according to its sensitivity level will help in tailoring specific security measures to protect each category adequately.

Understand Data Flows:

Understanding how data moves within your organization is crucial for effective DLP implementation. Identify data entry points, storage locations, and transmission channels. Map out data flows across different departments, networks, and cloud services. This insight will allow you to pinpoint potential vulnerabilities and apply appropriate safeguards at critical points to prevent data loss.

Develop Clear Data Handling Policies:

Establishing clear data handling policies is essential for creating a culture of data security. Work with key stakeholders, including IT, legal, and HR departments, to draft comprehensive policies that outline how sensitive data should be accessed, used, stored, and transmitted. Ensure that all employees receive proper training on these policies and regularly update them to adapt to evolving security threats.

Implement Access Controls and Encryption:

Data access controls are vital for limiting who can access sensitive information. Implement role-based access controls (RBAC) to ensure that employees can only access the data necessary for their roles. Additionally, encryption should be used to protect data both at rest and during transit. Encrypted data is much harder to exploit, even if it falls into the wrong hands.

Monitor Data Activities:

Continuous monitoring of data activities is critical for identifying potential data loss incidents in real-time. Deploy security monitoring tools that can track user behavior, detect anomalies, and generate alerts for suspicious activities. These monitoring mechanisms enable a swift response to any unauthorized access attempts or data leakage incidents.

Educate Employees on Data Security:

Employees are often the weakest link in data security. Human error, such as accidental data exposure, can lead to severe consequences. Therefore, it’s vital to educate employees about the importance of data security, the potential risks, and best practices for data handling. Regular training sessions and simulated phishing exercises can raise awareness and encourage a security-conscious workforce.

Regularly Test and Update the DLP Program:

A robust DLP program is not a one-time setup but an ongoing process. Regularly test the effectiveness of your DLP measures through penetration testing and vulnerability assessments. Periodically review and update your policies and procedures to stay ahead of new threats and comply with changing regulations.

A robust Data Loss Prevention program is an indispensable part of any organization’s cybersecurity strategy. By identifying sensitive data, understanding data flows, establishing clear policies, implementing access controls, monitoring data activities, educating employees, and consistently updating the program, businesses can safeguard their most valuable asset – data. Proactively protecting sensitive information not only reduces the risk of data breaches but also helps build trust with customers, partners, and stakeholders. Remember, data security is a continuous journey, and staying vigilant is key to maintaining data integrity and maintaining a strong reputation in the digital world.

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