With the increased focus on cyberattacks and data breaches companies are becoming aware that a key component of risk assessment is to ensure that they have the appropriate controls in place to safeguard their most important assets. Security measures like encryption, firewalls and authentication are all part of the plan, but so are policies that regulate the storage, use and sharing of data.
Data privacy covers these areas of control, and includes ensuring that personal data is only collected for the purposes it is needed for and that companies don’t store or share that information with untrusted parties. It also involves providing users with clear and easy-to-understand guidelines regarding how their personal data is being used, and giving them the ability to opt out of such applications. It also requires compliance with a variety of privacy laws that include GDPR, CCPA, and HIPAA.
Wireless, remote access, Bring Your Own Device smart devices, and Internet of Things technology make modern business environments more complicated. These require careful management of infrastructure and robust access control along with a thorough understanding of the laws which are applicable at the local state, provincial or national level.
You are at risk of a costly breach, which could harm your reputation and lead to the loss of customers, and lead to lawsuits or fines. You also risk that you’ll lose vital data that can help you develop new products and services for your clients. In short the importance of data security and privacy protection is not overstated.
