Finance data is sensitive, it’s personal, and it’s highly regulated.

Companies in financial services face specific challenges when it comes to securing the customer data they have, making sure they meet compliance requirements for various regulations, and proactively manage their data to mitigate risk and boost business outcomes.

On top of that, financial institutions tend to sit on high volumes of data, inviting higher risk. It’s difficult to keep up with the data they know they have — to say nothing of dark and potentially high-risk data hiding out (or forgotten) across the enterprise.

Financial institutions need to be able…

In BigIDeas on the Go, Sam Visner, Director of the National Cybersecurity Federally Funded Research and Development Center (FFRDC) at MITRE, talks about innovative cybersecurity technologies that help businesses meet industry standards, the future of an interconnected data infrastructure, and the intersection of security and personal privacy.

From the NSA to the private sector and a few stops in between, Visner built his experience primarily in national security. …

We’re in a modern age of data privacy. Since the General Data Protection Regulation (GDPR) went into effect in May 2018, companies face a new reality when it comes to their responsibility toward individuals and their data.

With that comes an unprecedented emergence of privacy laws aimed at protecting data subjects and their personal and sensitive information — and more organizations are building privacy frameworks designed to comply with those laws.

Transparency — and why it’s important

One way we think of privacy in this new reality is in terms of transparency: How clear are organizations being about their data policies and processes — in the…

Professionals in data privacy and data governance have navigated unprecedented challenges since compliance regulations like GDPR and CCPA have changed the way companies do business. This has compelled CDOs and CPOs to reassess objectives, reconfigure processes, and increasingly align to adapt to new demands and design new business outcomes.

BigID’s On-Demand Digital Summit, “Examining the Intersection of Privacy and Governance,” addresses these challenges with a panel of experts from top companies’ data offices and privacy offices. The panelists explore lessons they’ve learned, steps they’ve taken toward successful collaboration, and the way their roles intersect to create opportunities for business growth.

A Wake Up Call for Privacy, An Opportunity for Data

Identifying sensitive and regulated data inside unstructured data has always proved challenging: it’s difficult to accurately discover and classify sensitive data at scale, and scanning unstructured data is both resource heavy and slow to achieve results. Traditional methods of scanning enterprise data can take months or years: on average, 10 PB of unstructured data takes up to 14 years with one scanner, or 280 days with 100 scanners.

This creates significant issues for data compliance, security and governance since unstructured data (files, emails, spreadsheets, presentations, etc) often contain sensitive, critical, and regulated data about people, IP, accounts and more.

Enter…

In BigIDeas on the Go, Matt Getz, privacy and compliance lawyer for Boies Schiller Flexner LLP and former arbiter on the EU-US Privacy Shield Framework, discusses the widespread implications of the Privacy Shield decision — plus his work on Brown vs. Google, the upcoming class action “incognito mode” case that is already topping headlines.

What the Schrems II Decision Really Means for Data Privacy

On July 16, the Court of Justice of the European Union (CJEU) struck down the EU-US Privacy Shield, an agreement between the United States and the European Union on how US companies handle personal data for EU users, calling US protections “inadequate” under the framework.

The…

Earlier this week, BigID announced the first app marketplace for any data discovery platform. BigID’s App Marketplace makes it easy to add, extend, and adapt new apps to solve big challenges in data privacy, data security, and data management. This release comes on the heels of two other major announcements, Discovery-in-Depth and the BigID Application Development Framework, forming a triptych of major innovation in the category of data discovery and data intelligence.

This series of three announcements provide three critical innovations to help organizations get unprecedented situational awareness around their most critical asset: their data.

The last decade has proved…

Everything financial institutions need to know for GLBA compliance, including the provisions of the law itself, what data you need to safeguard and disclose to consumers, penalties you could face as an organization — and possibly individual — for noncompliance, new exemptions and challenges the California Consumer Privacy Act (CCPA) presents, and how BigID can help you ensure the confidentiality and security of your consumers’ data.

In this Article…

  1. What Is the Gramm-Leach-Bliley Act (GLBA)?
  2. Defining Nonpublic Personal Information (NPI)
  3. What Is a “Financial Institution” Under GLBA?
  4. “Consumers” vs. “Customers”
  5. Maintaining GLBA Compliance: The 3 Sections of the GLBA
  6. GLBA Fines, Violation Penalties…

Rule Number 1 for those in the privacy profession: become very comfortable with uncertainty.

That rule applies to last week’s landmark judgement in Data Protection Commissioner vs. Facebook Ireland Limited, Maximilian Schrems (“Schrems II”) from the Court of Justice of the European Union (CJEU).

What does Schrems II mean for data privacy?

Over the past decade, there have been ongoing attempts to validate US companies maintaining an “adequate level of protection” for any EU data. The EU-US Privacy Shield was introduced to specifically address data protection for personal data that is transferred from the European Union to the United States. …

In BigIDeas on the Go, Kurt Opsahl, Deputy Executive Director and General Counsel of the Electronic Frontier Foundation (EFF), shares his insights about how privacy law can adapt to changing technologies to “preserve a private space” for individuals.

Privacy Is the “Core” of Your Other Rights

“We’re trying to make sure we are going toward a world we would want to live in — one that’s not too dystopian,” says Opsahl of his work at the EFF, a nonprofit he describes as “dedicated to defending rights online and fighting for free speech, fair use, innovation, and privacy.”

Once termed a “rabid dog” by the Department of Justice for…

BigID

BigID redefines data privacy and protection: helping organizations know their data for privacy, protection and perspective.

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