Privacy and Data Security Resources (2024)

Privacy and Data Security Resources (1)

Advisory Report

NACUBO's Advisory Report 2003-01 includes a summary explanation of the Federal Trade Commission's final regulations on safeguarding consumer information.

Download Report

The FTC Safeguards Rule Promulgated Under the Gramm-Leach-Bliley Act

To protect student information, colleges and universities are required to comply with the Safeguards Rule of the Gramm-Leach-Bliley Act (GLBA). By existing law and regulation, the Federal Trade Commission (FTC) is the Safeguard Rule enforcement agency.

FTCregulations under 16 CFR Part 314, published in May 2002, mandate extensive new privacy protections for consumers stemming from the Gramm-Leach-Bliley Act. The GLBA requires financial institutions to take steps to ensure the security and confidentiality of customer records such as names, addresses, phone numbers, bank and credit card account numbers, income and credit histories, and Social Security numbers. The compliance deadline for the safeguards rule was May 23, 2003.

The GLBA broadly defines “financial institution” as any institution engaging in the financial activities enumerated under the Bank Holding Company Act of 1956, including “making, acquiring, brokering, or servicing loans” and “collection agency services.” Because higher education institutions participate in financial activities, such as making Federal Perkins Loans, FTC regulations consider them financial institutions for GLBA purposes.

The GLBA spells out several specific requirements regarding the privacy of customer financial information. Following its passage, NACUBO and other higher education associations worked to have colleges and universities exempted from the jurisdiction of the FTC because they did not fit the typical definition of a financial institution under the GLBA. As a result, under regulations promulgated in May 2000, colleges and universities are deemed to be in compliance with the privacy provisions of the GLBA if they are in compliance with the Family Educational Rights and Privacy Act (FERPA). However, higher education institutions are subject to the provisions of the act related to the administrative, technical, and physical safeguarding of customer information.

In the Office of Management and Budget Compliance Supplement released in July of 2019, a new audit objective designed to assess institutional compliance with the Safeguards Rule was announced. In February of 2020 ED released additional guidance for schoolsexplaining the Department’s procedures for enforcing the requirements and the potential consequences for institutions or servicers that fail to comply.

NACUBO's Advisory Report 2003-01provides a summary and explanation of the FTC final regulations related to the safeguarding of customer information.

GLBA Resources

Compliance with the EU General Data Protection Regulation (GDPR)

In April 2016, the European Union adopted a new set of data protection regulations that expands the personal privacy rights of EU citizens. The effective date of these new regulations was May 25, 2018. These regulations apply even to entities with no physical EU presence as long as they control or process covered personal information of EU residents. Colleges and universities with EU-resident students or faculty should be taking steps to ensure compliance with these new regulations.

GDPR Resources

Additional Data Security Resources

Other topics related to Department of Education Regulations are available here: ED Regulations

Privacy and Data Security Resources (2024)

FAQs

What is privacy and data security? ›

Data privacy focuses on issues related to collecting, storing and retaining data as well as data transfers within applicable regulations and laws, such as GDPR and HIPAA. Data security is the protection of data against unauthorized access, loss or corruption throughout the data lifecycle.

What are the 4 pillars of data privacy? ›

The four pillars of adoption, practice, system, and review are foundational to ensuring preparedness for data privacy within any business organization, especially in the context of complying with regulations like the Digital Personal Data Protection Act, 2023, of India.

What are the four 4 elements of data security? ›

To optimize data security, many organizations are considering the integration of blockchain solutions for their digital transformations. In general, data security can be broken down into four main elements: Confidentiality, Integrity, Authenticity, and Availability.

How do you ensure privacy and security of data? ›

When managing data confidentiality, follow these guidelines:
  1. Encrypt sensitive files. ...
  2. Manage data access. ...
  3. Physically secure devices and paper documents. ...
  4. Securely dispose of data, devices, and paper records. ...
  5. Manage data acquisition. ...
  6. Manage data utilization. ...
  7. Manage devices.

What is an example of privacy and data protection? ›

One example of data privacy is ensuring that sensitive data, such as financial information or medical records, is only accessed by authorized personnel. This can be achieved through access control measures, such as usernames and passwords, or biometric authentication. Encrypting data is another example of data privacy.

What are 5 ways to secure data? ›

Top 5 Methods of Protecting Data
  • Encryption.
  • Backup and Recovery.
  • Access Control.
  • Network Security.
  • Physical Security.

What are the three 3 general data privacy principles? ›

Section 11 of the law lists the general data privacy principles that apply to the processing of personal data, namely transparency, legitimate purpose, and proportionality.

What is the key concept of data privacy? ›

The fundamentals of data privacy include data confidentiality, data security, limitation in data collection and use, transparency in data usage, and compliance with the appropriate data privacy laws. Organizations should use security best practices when protecting sensitive data.

What are the key principles for data privacy and protection? ›

Generally, these principles include: Purpose limitation. Fairness, lawfulness, and transparency. Data minimization.

What is the 4 C's in security? ›

The 4 C's security refers to a framework comprising four essential elements: Concealment, Control, Communication, and Continuity. These elements collectively contribute to fortifying security measures and safeguarding assets, premises, and individuals against potential threats and risks.

What are the 4 P's in security? ›

In general, Information Security professionals suggest that protecting sensitive data requires a combination of people, processes, polices, and technologies.

What is an example of data security? ›

Some of the most common types of data security, which organizations should look to combine to ensure they have the best possible strategy, include: encryption, data erasure, data masking, and data resiliency.

What is the difference between data privacy and data security? ›

Data security protects information from unauthorized access, use, and disclosure. It also protects it from disruption, modification, or destruction. Data privacy is the right to control who gets to see your personal information like credit card numbers and bank account balances.

How do you solve data privacy issues? ›

Disable location tracking to prevent unwarranted data leaks and limit internal employees from accessing sensitive company assets from personal devices. Instil a mindset of only collecting personal data when absolutely necessary to prevent hoarding large volumes of data that put you at significant risk of cyberattacks.

How can you keep personal data secure and private? ›

Here are a few tips to ensure your personal information doesn't end up in the wrong hands.
  1. Create strong passwords. ...
  2. Don't overshare on social media. ...
  3. Use free wi-fi with caution. ...
  4. Watch out for links and attachments. ...
  5. Check to see if the site is secure. ...
  6. Consider additional protection.

What is the meaning of security and privacy? ›

Privacy is the right to control how your information is viewed and used, while security is protection against threats or danger. In the digital world, security generally refers to the unauthorized access of data, often involving protection against hackers or cyber criminals.

What do you mean by data protection and privacy? ›

Data privacy defines who has access to data, while data protection provides tools and policies to actually restrict access to the data. Compliance regulations help ensure that user's privacy requests are carried out by companies, and companies are responsible to take measures to protect private user data.

What do you mean by data security? ›

Data security is the process of safeguarding digital information throughout its entire life cycle to protect it from corruption, theft, or unauthorized access. It covers everything—hardware, software, storage devices, and user devices; access and administrative controls; and organizations' policies and procedures.

Is data privacy and information security the same? ›

Information security is a comprehensive approach to safeguarding all types of information assets, while data protection is a subset that specifically focuses on personal or sensitive data.

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