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The Importance of Privacy Compliance in Highly Regulated Industries

May 22, 2023

Overview

Privacy compliance is crucial, especially for highly regulated industries such as healthcare, finance, and government. These industries are subject to stringent privacy laws and regulations that mandate the protection of sensitive information and personal data.

What is Privacy Compliance?

Regulations like the GDPR, CCPA, and other data regulations subject the collection, storage, and use of customer data and communication channels (email, social media) to laws governing privacy, advertising, and consumer protection.

Why should companies adhere to these rules?

Failure to comply with privacy laws and regulations can result in severe consequences, including financial penalties, legal liability, and damage to brand reputation.

When should a company prioritize privacy compliance?

MOPs practitioners should always ensure that their marketing campaigns adhere to applicable laws and regulations. This is critical to protect their organization’s reputation, maintain business continuity, and comply with legal obligations. It is an essential part of ensuring ethical marketing practices and building a sustainable business.

Best practice for implementing privacy policies.

Implementing a standardized processing program like a framework will make sure every record in the database goes through the same standard process, and no leads fall through the cracks. This program can address issues like what fields do we need to create, when do we delete leads, what is the QA process that ensures communications are mindful of privacy compliance, and other industry-specific regulations/nuances. Ultimately, having a process can help reduce the risk of data breaches, non-compliance with regulations, and improve your team’s overall data management practices (how they collect, store, and use data).

Check out this blog for more information on Etumos’ compliance processing program.

Who ensures our company is in compliance?

The legal team informs MOPS personnel by outlining data privacy regulations (like GDPR or CCPA). Then it is a cross-collaborative effort between the MOPS and legal team to develop a privacy policy processes/framework to ensure compliance with consumer data.

Conclusion

As you can see, it is imperative for highly regulated industries to implement effective privacy compliance programs that ensure the safeguarding of personal data and the protection of privacy rights. As such, it is strongly recommended that you make implementing an effective privacy compliance program a priority in your roadmap and seek outside help if necessary.

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