As regulations shift and providers enter new markets, the telecom industry is changing rapidly. In preparation for these changes, telecom risk management professionals must become aware of new risks on the horizon.
According to Jake Olcott, VP Government Affairs, BitSight, privacy and net neutrality laws, new kinds of cyber threats, reputational dangers, and other factors are all poised to affect telecom companies deeply in 2019.
Which trends are telecom risk professionals focusing on this year?
1. GDPR and similar privacy laws are creating regulatory risk
GDPR, the European Union’s unprecedented privacy legislation, is impacting the way companies in Europe and the rest of the world do business. With strict rules about data protection and consumer access to their own data, GDPR has caused operational upheaval for many enterprise organisations.
As handlers of massive amounts of consumer data, telecom companies have had to take special precautions to become GDPR-compliant.
Now, GDPR-like regulations seem to be appearing in other parts of the world. California signed their own privacy legislation, the California Consumer Privacy Act, into law in July 2018 and a…
