A month has already passed since the new GDPR came into force. This regulation has come to transform the cyberspace user’s personal information management; but not without inciting an avalanche of questions among many organizations first.
Considering the scope of this regulation; it is very important for each company to have the correct information regarding GDPR implications, characteristics, and the precautions that must be taken to effectively comply with it.
To help you in this task, we have decided to offer you an overview of this new EU regulation for the protection of personal information of cyberspace users; as well as some details about the benefits of associating the GDPR to your SIEM software solution.
How did it come about?
The spread of Internet access among the world’s population has brought a giant increase in the amount of personal data processed in cyberspace; as well as an exponential growth in the theft and misuse of this data by different entities.
This lack of law and order has generated a growing concern among users regarding their privacy on the Internet; as well as an increase in complaints about the way in which their personal information is being used by the different organizations that handle it.
As a result, and as a way of confronting this problem efficiently; some European Union (EU)’s political institutions decided a few years ago to promote the creation of a regulation that would allow their citizens to have greater control over the management of their private information. It is in this context that GDPR was born.
The GDPR and the data
The GDPR is based on fundamental principles that state that personal data must be:
- Handled in a fair, legal and transparent manner.
- Protected in a way that guarantees its security and confidentiality.
- Collected for specific, explicit and legitimate purposes, without being used inconsistently for these purposes.
- Used only for the period required to achieve the above purposes.
In this context, the term personal data refers to any information relating to a natural person that can be directly or indirectly identified. This includes, for example, telephone numbers, credit card details, geolocation information and IP addresses.
Even if my company does not belong to the EU, am I concerned by the GDPR?
If your answer to any of the following questions regarding your business is yes; the GDPR definitely applies to your organization:
- Does your company have a physical presence in at least one member country of the European Union?
- Does it process or store data on individuals residing in the European Union?
- Do you use third-party services (this includes interacting with your customers on Facebook, Twitter or other social networks) that process or store information about individuals residing in the European Union?
According to these standards; it is clear that GDPR application is not directly related to the geographical location of the companies involved.
What are the GDPR implications for the companies concerned?
One of the factors with the most significant impact on the companies concerned by the GDPR is the establishment of 8 fundamental users rights related to their personal data. Taking into account some of these rights and in order to comply with the requirements of this legal framework, companies have the obligation to:
- Empower users over their own data, which implies keeping them informed about the use of their information. That includes providing access to the data when the user requires it; providing the right to rectify the data and allowing users to object in case of disagreement regarding its management.
- Delete user’s personal data in the case that the user revokes his/her consent. This right can be exercised in the context of a terminated service agreement with the company; or when a partner of the organization requests the data be deleted.
- Perform a comprehensive risk analysis, implement measures to ensure and demonstrate compliance with the GDPR and demonstrate full control over the data hosted in their system in order to reduce the risks to privacy and information breach.
- In the event of a security breach, organizations are obliged to notify the authorities within 72 hours; to detail the consequences of the breach and to inform the users involved directly.
The GDPR non-compliance requires companies to pay a fine of up to 2% of their overall income depending on the size of the organization.
Nothing to worry about
It is true that adjusting any organization to the GDPR can denote a great challenge. However, there is still a good opportunity to get ready for GDPR compliance and make it a good business ally.
Advantages of the GDPR for your organization:
- The GDPR contributes to exponentially increase customers’ confidence in your business as well as their level of satisfaction.
- By managing your database more efficiently; you will have easier access to any information that allows you to reduce operating costs by, for example, eliminating duplicate information and optimizing searches.
- You can better match your products and/or services to your customers needs thanks to a better customer understanding.
- Considering that data represents one of the most valuable assets of any company. Developing a strategy that guarantees their security means a competitive advantage as it strengthens a positive relationship between your brand and your customers.
5 steps can make it easier for you to comply with the GDPR:
- Start by studying GDPR legislation thoroughly.
- Evaluate the impact of the GDPR on your company.
- Determine priority actions to be taken.
- Develop a risk analysis to manage potential risks.
- Implement appropriate internal procedures
In relation to the last point, providing your IT security team with the correct tools is imperative to ensure data security in accordance with the GDPR legal framework. We highly recommend you to include an effective SIEM solution among these tools.
Benefits of a SIEM solution for the GDPR compliance:
- The SIEM tool is exceptional at collecting, filing, and processing fully encrypted data.
- It is effective in demonstrating the existence of an appropriate data monitoring.
- It identifies malicious behavior that may lead to the contravention of personal data.
- Collects and analyzes data in a quick and efficient way.
- Provides a real-time incident response to support the GDPR reporting requirement prior to 72 hours after an incident.
Since you will have to take data analysis to the next level; your SIEM solution should be up to the task. Consequently, if you are looking for the best you can find an excellent option in the AlienVault SIEM tool; which offers unified and coordinated Security Monitoring and multiple security functions in a single console.
To learn more about AlienVault or any other security tool for your organization, ask for free advice here.