Data Privacy 101 in St. Petersburg: How to Keep Your Company’s Data Secure
A recent report by Identity Theft Research Center found the number of data breaches in the first three quarters of 2021 has already surpassed the total number in 2020 by 17%.
The EY Global Consumer Privacy Survey reinforced the value of building trust as a key driver for consumers’ willingness to share personal data with a company.
According to the survey, the three main factors are:
- My data is collected and stored securely (63%)
- I can control what data gets shared (57%)
- I trust the organization I share my data with (51%)
A breach of personal data can undermine consumers’ loyalty and trust in your company, which can have a devastating effect on your business.
According to a recent study, three-quarters of consumers would stop doing business with a company after a data breach.
On your journey to ensure that your organization is in compliance with data privacy and security regulations and best practices, it is important to know the difference between data privacy and data security and how they are related.
How Are Data Privacy and Data Security Related?
Data privacy and data security solve different but related problems. Data security focuses on the confidentiality, integrity, and availability of the data.
On the other hand, data privacy is concerned with how data is collected, stored, managed, and shared with others. It also deals with compliance with the applicable privacy laws.
Data privacy and data security are two sides of the same coin. Just because you have one does not mean you have the other.
For example, securing your data does not necessarily mean that the data was collected in compliance with privacy law.
Another aspect of the relationship between data privacy and data security is that you can achieve data security without data privacy. However, you really can’t effectively fulfill data privacy without data security.
How Do You Keep Your Company’s Data Secure?
While no data privacy and security protection measure is completely infallible, being proactive means establishing robust policies and having a plan of action if and when a breach occurs.
There are three major areas to focus your assessment to ensure that you have a comprehensive approach to data privacy and security:
What are your company’s current protocols for controlling access and use of data? Any vulnerabilities in this area can result in unauthorized access to sensitive data. Ensure there is a robust data security measure in place.
What are the measures currently in place to ensure that data is accurate and protected from unauthorized changes? Vulnerabilities can result in data that nobody in your company trusts to be accurate.
When data privacy and security policies are not documented, or the existing documents are inadequate, it becomes impossible to hold employees accountable for the protection and appropriate use of sensitive data.
A comprehensive assessment can provide valuable information that can help you mitigate data privacy and security risks, and vulnerabilities.
For example, an assessment may confirm that you have a robust strategy for protecting digital data. But your company likely collects a sizable amount of sensitive information in paper format. If your assessment reveals that you do not have a data retention policy, then establishing one that includes a document destruction plan and policy should be a priority.
Take Control of Your Data in St. Petersburg
If you are thinking about putting a document destruction plan in place or would like to learn about disposing of sensitive information through secure shredding, reach out to ShredQuick today!
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