The General Data Protection Regulation is the strictest privacy and security law globally. Even though it was created and passed by the European Union, it imposes obligations onto organizations anywhere, so long as they target or collect data related to people in the European Union. GDPR is a new set of rules designed to give EU citizens more control over their personal data and simplify the regulatory environment for international business by unifying the regulation within the EU. Almost every aspect of our lives revolves around data, from social media to banks and government. Nearly every service we use involves the collection and analysis of our personal data. Your name, address, credit card number, and more are all collected, analyzed, and stored by organizations.
When did GDPR come into effect?
In 2016, the EU adopted the General Data Protection Regulation and was approved by the European Parliament in April of 2016. It replaced the previous 1995 Data Protection Directive. The legislation came into force across the European Union on 25 May 2018.
Who Does GDPR apply to?
The GDPR applies to any business that deals with private EU resident data, regardless of whether they are based in the EU. For example, a US company with a subsidiary in the EU (or just doing business with EU citizens) would be bound by the rules. In other words, it impacts virtually every company of any size everywhere in the world. Every major corporation in the world needs a GDPR compliance strategy.
How does GDPR affect Privileged Access Management?
As we know, Privileged Access Management (PAM) uses tools and practices to keep an organization safe from accidental or misuse of privileged access. A PAM solution will assist you with:
1. Securing privileged credentials used to manage most critical IT assets
2. Replacement of embedded credentials in applications and scripts
3. Continuously discovering privileged account access and automatically rotating their passwords as per your company policy
4. Being aligned with regulatory requirements for cyber-security
GDPR compliance requires tracking administrative access control for any system that manages personal data. For instance, this might mean managing and monitoring how multiple admins manage and protect data across multiple EU territories for an international business. Documentation of privileged access is necessary to establish that GDPR rules are being followed. A PAM solution can trace GDPR compliance while streamlining internal and external audits. A PAM solution can show which roles and which employees in an organization are allowed to modify data protection policies. Though fully complying with the GDPR requires various solutions, processes, people, and technologies, automating privileged access management serves as the foundation for GDPR compliance. Together with other appropriate solutions, processes, and people, privileged access management helps reinforce IT security and prevents data breaches.
Whether you are running a Canadian or US company, you most likely need to comply with GDPR, even if you do not have direct business relations in Europe. GDPR compliance will be difficult without a Privileged Access Management (PAM) solution and strategy. Our team can assist you with the implementation of CyberArk tools to make sure your Privileged Access to European data is aligned with GDPR requirements.