Conduct an Assessment

A goal of any business should be to maintain any information their customers entrust to it securely. Customers can quickly lose faith if a data breach occurs and their private information is stolen. In the global economy, customers have many choices for whom they do business.

Assess

The first step to securing sensitive information is formally assessing the current protocols for storing and maintaining data. An in-depth study of the baseline way you gather, house, and share data will guide changes needed in the future and identify potential vulnerabilities. Items could include:

• IT hardware and software.

• Data protection policy.

• Corporate communication plan.

• Disaster recovery plan.

Global Regulations

Next, research which internet privacy laws apply to your business. Global, state, and local jurisdictions can have different regulations on what information can be gathered and shared. Countries in the European Union fall under the General Data Protection Regulation (GDPR). Every EU country has to abide by the same regulations. In contrast, no single piece of legislation covers the United States. Instead, hundreds of federal and state laws attempt to protect citizens' privacy. 

A Plan

Develop an action plan for keeping your company in compliance. A large part of the action plan should be concentrated on training. Each employee should be well-versed in the proper handling and dissemination of sensitive information.