Updated: Nov 8, 2020
Privacy Risks With Data Sharing
Sharing any personal data with third parties exposes institutions, companies and Chief Risk Officers to the risk of non-compliance with Data Privacy Laws. In addition to EU's GDPR, new US Privacy Laws such as California's CCPA and Nevada's Senate Bill 2020 imposed more stringent obligations on organizations. Any violation of these laws when sharing personal data can result in fines worth millions.
In this article, we will share with you the best practices to follow when data sharing such data with third parties so that you can minimize the risk of non-compliance. We believe that organizations should leverage their existing Data Governance artifacts and processes to handle Privacy strategically.