With the increased focus on data breaches and cyberattacks businesses are recognizing that a key component of risk assessment is ensuring that they have the appropriate controls in place to safeguard their most valuable assets. Security measures like encryption, firewalls and authentication are included along with policies that regulate the use, storage, and sharing of information.
Data privacy includes these areas of control. This means ensuring that personal information is only gathered when it is necessary, and that companies do not store or share the data with unauthorised third parties. It also means providing customers with clear and easy-to-understand guidelines regarding how their personal data is used, as well as giving them the option to opt-out of those purposes. It also requires compliance to a range data privacy regulations including GDPR, CCPA and HIPAA.
Modern workplaces are complicated by remote access, wireless devices, bring your personal device smartphones, smart devices and internet of things technology. These require careful management of the infrastructure and robust access control and a thorough knowledge of the regulations that apply at the local, state, provincial, or even country level.
Without these security measures in place, you run the risk of an expensive security breach that could affect your reputation, lose customers and cause fines or lawsuits. In addition, you are at risk of losing important information which could allow you to create new products and services for your customers. In the end the importance of data security and privacy protection is not overstated.
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