As governments and other entities continue to focus on data security, there’s been a growing number of privacy regulations and data compliance standards that companies must meet to do business with their target customers.

Some of the most common data compliance regulations and standards include:

The Health Insurance Portability and Accountability Act, or HIPAA, is a critical piece of legislation that was passed in the United States in 1996. It establishes the guidelines for how healthcare entities and businesses handle patients' personal health information (PHI) to guarantee its confidentiality and security.

Every entity that falls under the "covered entities" category, as defined by HIPAA, must uphold HIPAA data security and compliance standards. These entities encompass not only healthcare providers and insurance plans but also business associates with access to PHI, including providers of data transmission services, medical transcription service providers, software companies, insurance firms, and more.

The General Data Protection Regulation (GDPR) is a comprehensive data privacy framework enacted by the European Union to safeguard the personal information of its citizens. 

GDPR focuses primarily on personally identifiable information (PII) and places stringent compliance requirements on data providers. It mandates organizations within and outside Europe to be transparent about their data collection practices, granting individuals greater control over their PII.

One of the GDPR's most striking aspects is its uncompromising stance on non-compliance. It imposes substantial fines for those who fail to adhere to its privacy regulations and data compliance standards. These fines can reach up to 4% of an organization's annual global turnover or EUR 20 million, whichever is greater.

For this reason, GDPR has caused businesses worldwide to reevaluate their data collection and handling practices, emphasizing the importance of robust data security and compliance.

The California Consumer Privacy Act (CCPA) is a landmark data privacy law in the United States, similar to the GDPR.

Like the GDPR, it also places the onus on businesses to be transparent about their data practices and empowers individuals to have more control over their personal information. Under the CCPA, California residents can request details about the data collected on them by businesses, opt out of data sales, and request data deletion.

However, unlike the GDPR, CCPA—and many other US data protection laws—are opt-out rather than opt-in, meaning that businesses can use consumer information in California until specifically told otherwise. The CCPA also only applies to companies that exceed a specific annual revenue threshold or handle large volumes of personal data, making it relevant for many, though not all, California businesses.

Since the CCPA came into effect, organizations have actively reassessed their data handling processes and adopted comprehensive data protection strategies to meet compliance requirements.

The Sarbanes-Oxley Act (SOX) is a piece of legislation enacted in response to corporate scandals such as Enron and WorldCom. Its primary aim is to enhance corporate transparency and accountability. Under SOX, every publicly traded company in the United States must meet strict financial reporting and governance standards.

Some of the most significant provisions of SOX include requirements for CEOs and CFOs to personally certify the accuracy of financial statements and the establishment of independent audit committees. SOX also introduces rigorous internal control measures to ensure the reliability of financial data while significantly increasing corporate misconduct and fraud penalties.

Though SOX primarily deals with financial reporting, it's still a vital compliance consideration, and IT organizations must be aware of it to ensure accurate and timely financial reporting.

The Payment Card Industry Data Security Standard (PCI-DSS) is a set of regulatory guidelines to safeguard credit card data. Unlike government-imposed regulations, PCI-DSS consists of contractual commitments enforced by an independent regulatory body known as the Payment Card Industry Security Standards Council.

PCI-DSS applies to any business that handles cardholder data, whether it be through acceptance, storage or transmission. Even if a third-party service is involved in credit card transactions, the company remains responsible for PCI-DSS compliance and must take the necessary measures to manage and store cardholder data securely.

The following steps can help organizations establish a robust data compliance program that meets compliance requirements and protects sensitive information. 

Many of these are actions that organizations can take immediately, while others require longer-term planning. The hope is that, with the proper amount of planning and focus, organizations can not only meet data compliance standards and ensure data privacy but also strengthen their overall information security and more effectively protect themselves and their customers from data breaches, data misuse and other forms of unauthorized access.

• Data compliance: Start by understanding the data compliance regulations relevant to your organization, which generally depend on your industry and geographical location.
• Data inventory: Develop an inventory outlining the types of data you collect, including where it is stored and who has access to it.

• Access controls: Implement robust access controls to restrict data access to authorized personnel, which can involve user authentication, role-based access and the encryption of sensitive data. A modern identity and access management program can help with this.

• Data storage: Take steps to ensure that your data is stored securely, both physically and digitally, which may entail deploying encrypted storage solutions, firewalls and access logs.

• Compliance training: Educate staff about data compliance to make sure they understand the regulations and the significance of data privacy. Regular training sessions can also help everyone stay informed about best practices.

• Data handling policies: Establish transparent security policies and procedures throughout your organization around how to responsibly handle data and ensure everyone knows the correct data management practices.

• Regular audits: Conduct periodic audits to verify the effectiveness and currency of your data compliance measures and identify potential vulnerabilities and areas in need of improvement.

• Data breach response plan: Develop a well-defined data breach response plan to prepare for a breach. Knowing how to respond effectively and promptly is crucial for minimizing damage and meeting the requirements of compliance frameworks.