Last week, we announced that we have approved Binding Corporate Rules (BCRs), which recognise the highest possible standards of data protection when transferring personal data.
Colt is one of fewer than ten companies globally with EDPB-approved Controller and Processor BCRs, and the only voice and data communications provider in the world to have obtained GDPR-compliant BCRs.
But why is this important and why look for a connectivity partner with this level of data security?
What are Binding Corporate Rules?
Under the General Data Protection Regulation (GDPR), transfers of personal data outside of the EU (a third country) are restricted and only allowed if a substantially equivalent level of protection has been put in place. Binding Corporate Rules are one way that controllers and processors can comply with the GDPR’s third country data transfer requirements. They are explicitly called out in the GDPR as a mechanism providing appropriate safeguards for third country data transfers.
They allow multinational companies to transfer personal data internationally within the same corporate group, sharing with countries that do not provide a level of protection that matches GDPR.
There are two types of BCRs; one for controllers, suitable for transfers of data that the group is ultimately responsible for, and one for processors, suitable for transfers within a group where the group is acting as processor for other controllers – generally this means customers.
Why is this important?
Data breaches, hacking and cyber security attacks are on the rise. As companies continue to go through digital transformation, the sheer volume of data that they create, manage and store is growing. This drives a greater need for data security and governance.
The environments we operate in are also more complex, with elements like the Cloud, data centres, edge devices and a remote workforce needing to be secure. This extension of the security perimeter means it’s more challenging to monitor and prevent attacks. Your end-customers also have an awareness and expectation that any data they share is kept secure. There is an increasing public demand for data protection initiatives and regulations which, if not met, mean expensive fines for enterprises. This also means that your supply chain needs to be secure, as anyone who looks after your data is a vulnerability.
As we’ve seen in previous research, security is top of mind for CIOs and network managers. Our dependence on technology and connected technology is increasing and all components need to be kept secure.
Network security isn’t a one-off project. There’s no magic wand that will guarantee the complete security of your data around the clock. It’s important to select a partner who provides a high level of data security for your network, and you need to view security as an ongoing, evolving company-wide project.
With the addition of BCRs to support our cybersecurity services portfolio, you can be rest assured that wherever your data needs to be, we can keep it secure and protected from potential threats. As these threats increase in sophistication, you need a modern telco that will stay ahead and support you in keeping your data safe.