Regulatory Compliance

Many industries have specific regulations regarding record-keeping. For example, in Healthcare, the Health Insurance Portability and Accountability Act (HIPAA) mandates strict rules for patient records. Non-compliance can result in fines or legal action.

GDPR

The General Data Protection Regulation (GDPR) in the European Union requires organisations to manage personal data securely. Failure to comply can lead to substantial fines (up to €20 million or 4% of global annual turnover, whichever is higher). 

Records Witness supports tracking of Personally Identifiable Information, allowing an organisation to ensure all known PII is under access control and subject to correct retention, as well as confirming disposal requests.

e-Discovery

In legal proceedings, parties may request electronic records as part of discovery. If an organisation cannot produce relevant records, or within a timely manner, it may face sanctions or adverse judgments. 

Records Witness facilitates early eDiscovery by having direct access to record sources, confirming their location and availability.

Spoliation

Intentional destruction of records during litigation (spoliation) can lead to severe penalties. 

Records Witness identifies when records are destroyed, modified, or redacted whether by intent, accident, or oversight. By complementing an organisation's Disaster Recovery investment, Records Witness can confirm accurate restoration.

Breach of Contract

Poor Records Management can violate contractual obligations. For instance, failing to maintain accurate financial records could breach agreements with investors or partners. 

Records Witness identifies when records go missing, or are altered, mitigating accusations of inaccuracy over time.

Patents and Trademarks

Protection of intellectual property is a significant challenge for digital assets.

Records Witness demonstrates a time line of originality, enabling defence of claims relating to prior art, infringement, or ownership.

Tax Compliance

Incorrect or missing records can lead to tax audits and penalties. The burden of proof lies with the organisation to demonstrate compliance.

Records Witness can grant access to trusted 3rd parties for transparent verification of compliance.

Data Breaches

Mishandling records can lead to data breaches, exposing sensitive information. Organisations may face legal action and reputational damage. 

Records Witness can help identify duplicates that may not be under correct Access Control.