Regulatory compliance requirements have become stricter in the past and it is mandatory for all publicly traded companies in the US and other regions.
You may not be a publicly traded company, but you may be one who provides services to these companies as a small business or consultant. Let me share some of the Data Regulations in place today:
Sarbanes-Oxley Act
Known as SOX, this Act requires company financial executives to be culpable for financial reporting. Independent auditors review financial controls and processes to ensure accurate financial reporting. Controls of records and processes are preserved to prevent fraudulent activities.
Healthcare Insurance Portability and Accountability Act
The Healthcare Insurance Portability and Accountability Act (HIPAA) requires, among other things, the securing of patient information.
Payment Card Industry Data Security Standard
The four major credit card associations in the United States (Visa, MasterCard, American Express, and Discover Network) adopted a consolidated data security standard (Payment Card Industry Data Security Standard; PCIDSS). Compliance is required of merchants accepting these cards.
European Union Data Protection Directive
The European Union Data Protection Directive (EUDPD) standardizes the protection of data privacy for citizens throughout the European Union (EU) by providing baseline requirements that all member states must achieve through national implementing legislation
Gramm-Leach-Bliley Act
The Gramm-Leach-Bliley Act addresses the protection of nonpublic personal information, requiring that financial records are properly secured, safeguarded, and eventually disposed of in a manner that completely destroys the information.
Breach Notification Legislation
California’s Senate Bill 1386 (SB1386) requires notification to California residents regarding any breach to the security of a computing system containing personal information.
Japan’s Personal Information Protection Act
The Personal Information Protection Act applies to government or private entities that collect, handle, or use personal information of 5,000 or more individuals.
So briefly, you will note that if you are keeping all your data, securing it and preserving it, then you are covering the compliance requirements. And one of the most important aspects to regulatory compliance is full accessibility to the stored data.
With Vaulten, all your data is stored in multiple versions as long as you do not manually delete it. And as with most other online backups, there is no limit on how long your data is stored on our secure backend. Besides, data is stored on highly secure, redundant (geographically segregated) IBM powered and managed servers.
