By Jodi Daniels
While data breaches get a lot of attention, privacy also includes how companies collect, use and share information. Without privacy by design and operationalizing privacy throughout all aspects of the business like in marketing, product development, and in IT, personal data could be used outside the scope of when the individual first shared the information. According to the National Cybersecurity Alliance, nearly 75 percent of Americans feel it is “extremely” or “very” important that companies have “easy-to-understand, accessible information about what personal data is collected about them, how it is used and with whom it is shared.”
In some countries, regulators have strict laws requiring companies to protect personal data and infuse it into their operations like the EU’s impending GDPR becoming effective May 25, 2018. It has been reported that Warren Buffet said during Berkshire Hathaway’s annual shareholder meeting May 2017 that cyber attacks pose a greater threat than nuclear weapons. Per Gemalto, the United States is the world leader in data breach incidents responsible for nearly 90% of worldwide reported data breaches.
On January 28, 2018, companies around the globe will (or should, or should have) recognize(d) that privacy is critical to building and maintaining customer trust, can be a competitive advantage and is critical to lowering the risk of a data breach. Each person has a role in the protection of personal data from both misuse and or a cyber attack.
About Jodi Daniels
Jodi Daniels is Founder of Red Clover Advisors, a data privacy consultancy that assists companies with GDPR compliance, operationalizing privacy, digital governance and online data strategy.