Data privacy is the protection of individual’s and companies’ sensitive information. Whether it’s important individual information, such as healthcare records, or important company information, such as consumer data, protecting it is both increasingly essential and difficult. As a result, there are hundreds of state and federal laws that govern data privacy. On top of those regulations, there are additional international compliance laws. Corporate compliance professionals are on the front lines of protecting data and ensuring compliance.
As technology advances, there are increasing threats to data privacy. In the United States, the lack of a federal consensus means there are more state laws to juggle. The world of compliance is ever-changing because it needs to keep up with advances in technology. Corporate compliance becomes more important as the landscape evolves. The Bureau of Labor Statistics (BLS) projects 4.3% employment growth for compliance officers between 2021 and 2031. In that period, an estimated 15,100 jobs should open up.
Forward-thinking and ambitious professionals can take advantage of this exciting opportunity. If you’re looking to go into corporate compliance, look no further than Seattle University School of Law’s compliance program. Our Master of Legal Studies (MSL) program prepares you to lead compliance efforts in any organization, regardless of industry.
The Key Players in Data Privacy
While there is no federal consensus on data privacy, a few agencies and acts exist as a framework.
The Federal Trade Commission (FTC) exists to protect America’s consumers and has been doing so for 100 years. Many Acts are enforced by this agency, such as the Children’s Online Privacy Protection Act (also known as COPPA). COPPA allows parents to control what information websites can collect from their kids. Another example is the CAN-SPAM Act, a compliance and ethics guide for businesses and their communications with consumers. Probably the most commonly known data privacy act is the Health Insurance Portability and Accounting Act (HIPAA), which governs the collection of health information.
To supplement the lack of federal regulations, states have taken it upon themselves to set their own data security laws. State attorneys oversee this enforcement, but each state is different. So far, only five states – California, Colorado, Connecticut, Utah, and Virginia – have passed comprehensive laws to date. California began the trend, which may not come as a surprise since it is the home of Silicon Valley, the technology hub of the nation. Laws are making their way to state legislation sessions.
Changes on the Horizon
On a state level, legislators are attempting to push bills onto their governor’s desk. Federally, the ADPPA (American Data Privacy and Protection Act) was the closest Congress got. ADPAA was a proposed federal online privacy bill that, if enacted into law, would have regulated how organizations keep and use consumer data.
This process shows why compliance ethics professionals are critical. There is a massive push in the United States toward privacy legislation. Corporate compliance officers address the most urgent challenges their businesses face. The job is more than just meeting regulatory requirements; it extends to driving business success through the thoughtful and ethical application of expertise.
Seattle University Leading You To Corporate Compliance
Seattle University’s online MLS in Compliance and Risk Management lets you advance your career. Students can earn a general compliance degree. Plus, we have multiple concentrations available. These include health, sports, financial, corporate, and cybersecurity, giving our students a breadth to choose from when it comes to specialization.
Our MLS program is fully online, which gives students the capability to obtain the degree on their own time. They graduate with a commanding knowledge of the law, legal analysis, and the frameworks used to identify, assess, and respond to risk. Interested in furthering your education, enhancing your career, guarding data privacy, and gaining the ability to do so with flexibility? Contact our admissions office today.