With a new year comes new privacy and cybersecurity challenges for companies large and small, not the least of which is new regulation. The tech industry is facing new regulations in 2023, some of which will have profound impacts on day-to-day business and carry heft penalties for non-compliance.
Here’s some of the top regulatory issues companies need to be aware of:
Voluntary Cooperation Is Out; Regulation Is In
One of the major changes moving forward in 2023 is an expected change in the US government’s approach to cybersecurity. In the past, the government was largely willing to allow companies to handle cybersecurity issues on a voluntary basis, but those days appear to be over.
The White House Office of the National Cyber Director is expected to unveil major new initiatives in the first half of 2023, and many of them will be mandatory.
“We’ve been working for about 23 years on a largely voluntary approach,” said Mark Montgomery, the senior director of the Center on Cyber and Technology Innovation at the Foundation for Defense of Democracies. “The way forward is going to require thinking about regulation.”
California Consumer Privacy Act of 2018
One of the biggest regulatory challenges businesses will face is the California Consumer Privacy Act of 2018 (CCPA), including the Proposition 24 amendments that were passed in 2020 and expanded the scope of the CCPA.
Per the California Attorney General’s office, the CCPA guarantees the following rights:
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