Collaboration Tools Compliance: Why This Is Must Both for You and Your Employees

 

Collaboration Tools Compliance: Why This Is Must Both for You and Your Employees


Striking a balance between regulating sensitive data and providing your employees enough room to work


It does not matter how you feel about it; compliance is critical for your organization, and it is almost always required. At the same time, there should be a balance between adhering to compliance laws and depriving your employees of their rights. Taking too much away would prohibit them from executing their task in the first place, resulting in unneeded friction. Compliance officers must keep that in mind and act and conduct investigations to ensure your online collaboration platforms strikes a balance between allowing employees to utilize it safely and securely while complying with all rules.


Doing so is essential because misuse or loss of sensitive data, whether intellectual property or personally identifiable information (PII) about your customers or employees, may result in legal issues, reputational damage, and significant fines. And the surge in the usage of online collaboration and communication platforms due to the pandemic has only further increased the danger of cyberattacks, necessitating the need for office 365 advanced compliance and instant messaging compliance tools. Additionally, for the same reasons – as well as the numerous mediums for consuming content and data, ranging from mobile and the Cloud to portable drives and Virtual Private Networks – it has become more challenging to ensure that your sensitive data is not accessed by unauthorized individuals, whether accidentally or on purpose.


Apart from the aforementioned reasons, several industry-specific and general regulations, including the following, require organizations dealing with sensitive data to ensure data privacy compliance at all levels, including SharePoint solution and similar collaborative tools.


GDPR

The need for companies to know where necessary or confidential data is stored, to have appropriate control measures in place over that data, to have a proper encryption system in place for that data, and to monitor that data for potentially malicious activity is at the heart of General Data Protection Regulation (GDPR) compliance.


Australian NDB

The primary purpose of complying with Notifiable Data Breaches in Australia is like GDPR's requirements to protect critical data, perform monitoring, and so on. Still, it Is also about notifying everyone who was affected by the breach if it occurred, from the government to the customers whose data was in any way affected by the breach.


HIPAA

The Health Insurance Portability and Accountability Act is a US law that sets privacy standards for patients' medical records and similar information in general. Health Information Technology for Economic and Clinical Health (HITECH) Act applies a set of regulations to medical records stored digitally with the help of HIPAA compliance software. HIPAA HITECH is a standard dedicated to companies working with electronic health information in any way that sets privacy standards for patients' medical records and similar information in general.


SEC

Because most stock brokerages serve as both agents and principals, the term broker-dealer is used in securities legislation in the United States. When a brokerage executes orders on behalf of its customers, it operates as a broker (or agent). Still, when it trades for its own account, it acts as a dealer (or principal)." The Securities and Exchange Commission (SEC) regulates broker-dealers in the United States, with SEC 17a-4 being its primary regulation. It concerns the records kept by brokers and dealers and the period for which they must be retained.

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