News and Insights – January 2016

What’s Changing in IT Compliance This Year?

As 2016 begins, small and mid-sized businesses are facing an evolving IT compliance landscape. While international regulations like GDPR are still in early discussion stages, changes are already underway in Argentina that hint at more stringent enforcement and growing expectations around cybersecurity and data handling.

Key Trends to Watch in 2016

• Data Privacy Regulations: Several proposed amendments to Argentina's data protection laws are gaining traction. Businesses should anticipate tighter rules around how personal and customer data is collected, stored, and transferred.
• Audit Preparedness: Authorities are increasingly conducting random audits on SMBs in sectors like finance, retail, and healthcare. Documentation and proactive measures are now critical.
• Cloud Compliance: As more Argentine companies adopt cloud services, questions around shared responsibility models and vendor contracts are surfacing. Compliance isn’t just about your company anymore – it’s about your providers too.

Why It Matters for SMBs

Compliance used to be seen as an issue for big corporations. But 2016 is reshaping that thinking. If you handle customer records, process payments, or store employee data, you’re in scope. Ignoring compliance could lead to fines, reputational damage, or operational disruptions.

How to Get Ahead of the Curve

Virtus Group recommends these steps:

• Review all data handling practices and access policies
• Ensure your backups are encrypted and tested
• Update contracts with cloud vendors to reflect shared responsibilities
• Train staff on basic data security and recordkeeping

Need help assessing where you stand? We’ve developed a free readiness checklist