Data privacy issues are a concern because personal information can be used to commit crimes, like identity theft or fraud, and it is also a target for hackers who can steal data and sell it on the dark web. Having effective controls in place helps to protect your customers’ and employees’ data, as well as your business from a potential breach that can impact your reputation.
A key component of most data privacy regulations is that companies limit the collection of data to what is necessary for a specified purpose. However, technology is evolving quickly and it can be difficult to keep up with the pace of how data is collected and utilised by your business. It is important to thoroughly research the systems you are integrating with and have your privacy team or a lawyer verify whether those systems are privacy-compliant based on applicable laws.
Creating a data privacy policy and training your employees on it is an essential first step in protecting the sensitive information that your company handles. It is equally important to set up security protocols for the data that is stored on your devices, in your cloud services and in your external software.
Finally, it is critical to create a detailed response plan for the event of a data breach. This should include who the point of contact is, containment measures and recovery processes. This will help your organization to be prepared to mitigate the effects of a data breach and restore customer trust in your business.