GDPR: How to Efficiently and Effectively Secure Personal Information
The standards in regards to safeguarding and processing of personal information have been drastically elevated by the European General Data Protection Regulation (GDPR); on the other hand, the tokenization and encryption of important and delicate information before being stored up in the cloud can make the severe requirements easier to meet and help evade weighty fine.
It took four years of development and discussions before The GDPR’s provisions are being authorized on May 25, 2016, taking the outdated EU Data Protection Directive (95/46 / EC) of 1995. “The aim of the rules is to return control to users over their data and introduce a high and uniform level of data protection across the EU that is needed for the digital age,” wrote the press office of the European Parliament in the wake of GDPR’s adoption.
The essence of the EU-wide regulations centers on how to store and process personal information securely. The new EU privacy regulation came into operation on May 25, 2018, and to add to the complexity, not every EU country’s implementation is the same.
Severe Punishment as a Warning
Any company that arrives at the time limit without taking the necessary steps will be slapped with a very painful punishment of up to 4% total global annual revenue, or nothing less than 20 million Euros. However, the precise punishment will be decided by the agency in charge of information security in each country. Still, the GDPR explicitly made it clear to each regulatory agency to ensure that the punishment “in each case is proportionate and dissuasive”.
Every company that transacts business with the EU citizens is greatly affected by the new regulation due to the unavoidable involvement of storage and processing of personal information in today’s digital economy. Personal data comprises “all the information that makes persons identifiable” including names, addresses, account information, and other online identifiers and unique characteristics, including “the expression of the physical, physiological, genetic, mental, economic, cultural or social identity of an individual.”
Pseudonyms and Encryption
Even though the European Parliament permits the companies to decide how to ascertain privacy, the regulation requires “appropriate technical and organizational measures”. Nonetheless, the parliament gives indicative order that requires companies to stick to the best practices. The use of pseudonyms and encryption is explicitly enumerated as an appropriate technique to realize satisfactory safety levels.
The GDPR describes pseudonyms as “the processing of personal data in a way that it can no longer be assigned to a specific person” and requires that additional identifiable information be kept separately and be “subject to technical and organizational measures, to ensure that the data is not allocated to an identifiable natural person.”
Pseudonymization or tokenization is considered: A Safe Approach to Data Security under the GDPR.
If there is one method that meets the vast requirements of the GDPR, it is tokenization. The process developed by Rixon Technology ensures that sensitive personal information is randomized and replaced by generated tokens before being processed and not stored in the cloud by third-party service providers. The token maps and the tokenized, identifiable information are stored separately in a controlled database part with the company and elsewhere.
Rixon Technology service providers like proffer designated solution to automatically tokenize sensitive information. Tokenization offers no connection between the original data and random tokens, which ensures a significant reduction in the possibility of compromised data.
Tokenized information retains the same information configuration making it impossible for information thieves to access – for instance, a credit card number of “4123 4820 2310 8650” could be replaced by the token “4123 0405 2024 8650”. The token functions just as the original information because the retained configuration does not interfere with external applications or processes.
Rixon Technology’s Enterprise Vaultless Tokenization is confirmed and verified in regulated industries, according to GDPR. Moreover, about 40 percent of financial institutions, including banks, now approve the use of tokenization to secure sensitive personal information like social security numbers, dates of birth, tax numbers, and credit card account numbers. Leveraging Rixon Technology is the best way to protect your data.
Security to halt access by service providers and government organizations
Accurate tokenization of information makes it easy to meet the requirement policy of GDPR concerning the transfer of personal information to third countries outside the European Union or international. Data protection by encryption or tokenization before it is transmitted, processed, or stored by a company is an excellent step to prevent legal challenges for any companies that are thinking about complying with GDPR. Using Rixon Tehnology’s Tokenization Service, an IT manager’s concern of giving storing and transmitting sensitive data to internal applications and external applications and providers is nullified.
Total information protection measures.
Tokenization’s effectiveness doesn’t guarantee solution for general purposes “Tokenization is ideal when it comes to protecting structured data within databases, such as a CRM, but to protect files, and other unstructured data, then it makes sense to consider encryption.”
Tokenization and encryption serve as total and all-inclusive security measures that ascertain the legal requirements for protecting personal information and company information. “Data security is always about a range of technologies that must be tailored to the individual circumstances of each company.”