Data Privacy – Why Should We Care?
What even is data privacy?
The concept of “data privacy” refers to the manner in which a certain piece of information, also known as “data,” should be managed according to the importance it holds. For instance, you probably wouldn’t mind if a stranger asked you your name if you were introducing yourself to them, but there are other pieces of information that you probably wouldn’t reveal, at least not until you get to know that person better. However, if you want to open a new bank account, you should be prepared to disclose a substantial amount of personal information — information that goes way beyond your name.
Uses of data protection plans
In this day and age, the idea of data privacy is most applied to all manner Personal Information (PI), and personal health information. This includes Social Security numbers (USA), health and medical records, financial data such as bank account and credit card details, and even basic information that is including full names, birthdates, and addresses, VINs, and even your IP address.
The protection of a company’s customers, employees, and even vendors goes well beyond their personal information. It also contains the information that assists the company in running its business, such as data that is exclusive to the company and used for research and development, or financial information that demonstrates how the company is spending and investing its money.
Why is protecting personal information so important?
When information that ought to be kept private falls into the wrong hands, it might result in undesirable outcomes. A data breach at a government institution could, for instance, transfer top-secret material into the hands of an adversary state. In the event of a breach at a company, confidential information may end up in the hands of a rival company. The personal information of minors ( people under the age of 16) could get into the hands of identity thieves if there is a breach at the school. In the event of a breach, protected health information may end up in the hands of individuals who intend to use it inappropriately.
Data Protection Laws coming to a country you live in
The EU General Data Protection Regulation (GDPR) was just the beginning, it is by no means the end of the data privacy revolution.
The GDPR was mandated in order to improve the security and privacy of sensitive data pertaining to individuals by those who handle it. It is a requirement that the processes be transparent, and its effect can be seen not only in Europe but also all around the world. It is possible to say that the EU’s GDPR has increased the general public’s knowledge of the fact that they have a right to the security of their data, which has been an important factor in the development of a culture of data privacy and protection. Data privacy, data security, and data handling have evolved into a problem that affects people all over the world as a result of the continual movement of sensitive information across borders. This was brought to light as a result of GDPR. In the US the most obvious impact is that as of July 31, 2024 eighteen US States have passed legislation that acts as a mini GDPR. Before 2020 no State had such legislation in place.
Where do I begin?
If you are a small business you are probably thinking how can you provide data protection when it seems all these major companies are reporting a data breach every week. That is why we here at CSR created uRISQ specifically for small businesses to achieve robust data protection comparable to major corporations. By offering comprehensive security solutions, it enables smaller enterprises to safeguard their sensitive information effectively, ensuring compliance and enhancing trust without the need for extensive resources typically required by larger organizations.
To learn more about uRISQ contact CSR.
