Not understanding the true meaning of Data Privacy and Data Security can put your organization at risk. The usage of these words goes way beyond their connotations.
Many people use these terms interchangeably. Even though they share the same goal, they are very different in reality. Data Privacy is protecting your personal information, and Data Security is all the security measures you have in place to protect your business information.
During the Covid-19 pandemic, more people have spent more time online than ever. The massive shift from offline to online has not gone unnoticed by the cybercriminals. They have thousands of more targets now than they had before the pandemic. The distinction between these words has never been more important.
Data Privacy can be considered as a subset of an organization’s Data Security. The tools used to maintain data privacy and to ensure data security may intersect, but there are usually different departments using different tools to address the issues.
The intersection can cause confusion for companies who only focus on data security, with the false impression that their data privacy is also protected. Unlike data security, which focuses on protecting confidential business information from theft and ransomware attacks, data privacy is more inferior. Organizations must understand, track, and control data storage and regulate authorized access to their data to ensure data privacy.
A Matter of Trust
While data privacy is becoming more supervised this year, it still comes down to trust. Data Privacy today is mainly concerned with the protection of personal data based on laws and regulations. This is often represented by the consumers ignoring the privacy policy, which hardly takes 20 minutes to read, before consenting to that policy. Their acceptance allows organizations to access the consumers’ personal data in documented ways. However, if that organization sells the consumers’ data to other organizations, that is clearly a case of breach of privacy.
Given all the scenarios that have happened in the past few years – from the massive data breaches to the growing cyberattacks on businesses and individuals – it is not surprising that consumers feel unsafe with their data in the hands of huge corporations.
As the hacking industry is continuing to grow at a rapid rate, and cybercriminals are more well-funded, and the global transformation of work-from-home continues to become the ‘new normal,’ companies must take some action to understand how Data Privacy and Data Security works and protect its business and consumers from anything unfortunate. Safeguarding confidential data about business and consumers is far more important and economical than addressing a huge data breach or facing a cyber-incident, that can not only destroy your business but also ruin your reputation, credibility, and consumer’s trust.
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