From the course: Cloud Security Considerations for the Financial Services Industry

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Data and privacy in Brazil

Data and privacy in Brazil

From the course: Cloud Security Considerations for the Financial Services Industry

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Data and privacy in Brazil

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- [Instructor] We will now jump over the Atlantic, to discuss data privacy and protection laws in the Americas, you will soon see that the laws in this part of the world are not nearly as robust as those in Asia and Europe, our first stop is Brazil where data breaches can earn a fine of up to 10% of the revenues, temporary suspension of a organization's activities and prohibition of certain activities. Penalties of imprisonment or fine or both can be levied. The Bank Secrecy Law establishes a penalty of imprisonment and a fine for financial institutions. Brazil has no consolidated or specific law regarding data protection, so the whole concept of an exempt sector is just not applicable. There are also no restrictions on the scope of protection for personal identifiable information and notification is only required under very specific circumstances under Brazilian law. As a general rule, personally identifiable information collected or stored must be objective, necessary and accurate…

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