Companies are recognizing that, with the increasing attention given to data breaches and cyberattacks, it is important to have the appropriate controls in place for protecting their most important assets. Security measures like encryption, firewalls, and authentication are in place along with policies that regulate the storage, use and sharing of information.
Data privacy is one of the areas of control, and includes making sure that personal information is only collected for the purposes for which it is required and that companies do not store or share that data with untrusted third parties. It also involves providing users with clear, simple-to-understand guidelines regarding how their personal data is used and providing them with the option to opt-out of these uses. It also requires compliance to a range data privacy regulations including GDPR, CCPA and HIPAA.
Wireless, remote access devices, Bring Your Own Device smart devices and Internet of Things technologies make modern business environments more complicated. These require careful management of the infrastructure and robust access control as well as a thorough understanding of the laws which are applicable at the local state, provincial, or even country level.
You are at risk of a costly i thought about this breach, which could negatively impact your reputation, cause you to lose customers, and lead to fines or lawsuits. Furthermore, you run the risk of losing important data that would help you create new products and services that are beneficial to your customers. In a nutshell the importance of data security and privacy protection is not overstated.