New Cyber Security Regulations on Horizon for Canada

HIGH RIVER – September 27, 2018 – JEI Tech, a leading managed technology services provider, is helping small to mid-sized businesses (SMBs) navigate the recent changes in cyber security standards that are highly likely to affect Canadian businesses. Many have heard about Facebook’s recent controversy around Cambridge Analytica and irresponsible data sharing policies. Marc Zuckerburg even testified in front of the EU in order address these major concerns and the result has been the passing and implementation of the GDPR (General Data Protection Regulation), which took effect in Europe in late May.

This new regulation demands transparency and responsible data practices on the behalf of all companies that do business in the EU. Some examples of GDPR in effect are 1) Requiring all subscribers to opt-in again to receiving all newsletters/marketing emails/etc. and 2) Companies need to report any major data breaches to all of their customers within 72 hours of the breach occurring.

There are many more components to the regulation, however, the penalties for not adhering to these standards are in the millions. This standard is very likely to reach the US marketplace and for most companies, this standard is already affecting their businesses. For example, if a business has any suppliers, customers, or satellite offices in countries located within the EU, they need to take a serious look at their data practices and make sure they are compliant. In time, many experts expect GDPR or some derivation of it to affect Canadian-based businesses. “We strongly believe data regulation is coming to the Canadian marketplace it’s certain that some form of cyber security regulation is imminent and severe penalties will follow businesses that aren’t compliant,” stated John Coleman, Director of JEI Tech. “There’s simply been too many data breaches that have affected major companies like Dropbox and Target for regulation not to come. When it does JEI Tech’s proven cyber security program will play a major role in helping our customers meet these new regulations,” added Mr. Coleman.

Cyber security has transitioned from the era where an enterprise could “play dumb,” expect a slap on the wrist, pay minor fines and resume business as usual. Cyber security is now a central pillar of any organization’s success or demise and with the stakes as high as they are now, SMBs need to address their data policies and practices immediately.

While most business owners dread the idea of spending time, energy and money on meeting a new compliance, the simultaneous opportunity is for businesses to leverage the expertise of JEI Tech to lower their operating cost s through the deployment of advanced technology to offset the new investments in cyber security that they will likely be required to make. Whether the organization is large or small, soaring or declining, it’s time to revisit cyber security policies today.