FREE COMPLIANCE TEMPLATE: Regulated Data Fields
What Is the Regulated Data Fields Template?
REGULATED DATA FIELDS is an excel file that can be used to map your application’s data fields to regulated data types.
Regulated data is information that is protected by local, national, or international statute or regulation mandating certain restrictions. Despite numerous proposals over the years, no one comprehensive federal law governs data privacy in the U.S. However, individual states have passed privacy laws related to personal data. Many states, such as California, Virginia, Colorado and Texas, have implemented their own privacy laws that apply to companies that conduct business or produce commercial products. Also, these laws can apply to services that are used by state residents. If you are conducting business in Europe, then GDPR becomes impactful as well.
This file attempts to provide a single method to identify and organize data stored in your application. Although PCI data is not regulated as a law, it is required by the Payment Card Industry Security Standards Council. This independent entity was created by major card brands in 2006. The U.S. government has no involvement in the standard or its enforcement. However, if you do not comply with PCI, you can lose the ability to process payment cards and also be subject to fines from processors and banks affiliated with your company.
Data privacy laws impact almost every company that collects personal data from individuals, as they mandate how businesses can gather, store, and utilize customer information, forcing them to implement stricter data management practices and potentially incur penalties if they fail to comply with regulations. These regulations impact both large companies and small businesses alike. This file will help your company identify personal information that is regulated or impacted by privacy laws.
How is it used?
This form provides clear guidance on what data types are considered regulated and in need of appropriate security regarding its use, storage, access, security and retention.
This file will help your organization identify what types of data are stored within your applications and help determine the security in place. Establishing a data governance structure is essential to ensuring your organization is able to comply with regulatory data requirements. For more information please on data security, please contact ISSGLOBAL.
