Data governance and regulatory compliance has always been included in risk assessments, especially in industries where there is sensitive data or products that need to meet certain safety specifications or where minimum health standards need to be met.
Traditionally, companies only had to worry about government legislation in their own country.
With the globalization of trade, the explosion of big data, and the ease of web connectivity, virtually any company that does business online or collects data (even for marketing or analytics) needs a clearly defined data governance regulatory compliance strategy. Without such a strategy, the consequences of not ensuring compliance can be quite stark.
An upcoming data framework for the secure and resilient processing of personal information in the European Union. It aims to facilitate secure data sharing and data portability by ensuring the continuity of data processing operations across the EU.
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