The General Data Protection Regulation (GDPR) is the toughest privacy and security law in the world. 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. The GDPR’s primary responsibility is to give control to individuals over their personal data and to simplify the regulatory environment for international business by unifying the regulation within the EU.
While GDPR simplifies several data protection requirements, it adds new rules that will almost certainly present challenges to international businesses working in the EU. 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, GDPR impacts virtually every company of any size everywhere in the world.
How does GDPR affect Privileged Access Management?
As we know, Privileged Access Management (PAM) is a security discipline that 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, for example, which roles and which persons in an organization are allowed to modify data protection policies. As many recent data breaches show, securing data should start with those who have the most access. PAM is one way of resolving the issue and should include application onboarding and maintenance.
Though fully complying with the GDPR requires a variety of 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 robust 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.
Contact us today to learn more about how to implement CyberArk solution to support General Data Protection Regulation (GDPR).