Data privacy rules have established the criteria and procedures that businesses must follow in order to be secure and compliant.
“Privacy in the digital age is an oxymoron” succinctly summarizes the current situation of data. The concept of true ‘privacy’ possibly no longer exists. Internet-connected gadgets usage has skyrocketed in recent years, bringing massive improvements to our society, but this has come with the rider of privacy concerns, since we are all followed and always monitored. Today is Data Privacy Day and as we accelerate further into a data driven future, it is best if we appreciate the significance of the day that celebrates the value of data privacy.
Around the world, January 28 is observed as Data Privacy Day (DPD). The goal of the day is to raise awareness and spread privacy practices and concepts. It encourages everyone to take ownership of their privacy obligations in order to foster a privacy culture. The Council of Europe established the event in 2006 to celebrate the signing of Convention 108, the first legally binding international convention dealing with privacy and data protection, on January 28, 1981.
Data privacy has never been more crucial, especially with large sections of the workforce still working from home. Covid-19 has presented organizations with unprecedented hurdles, emphasizing the importance of putting a higher priority on data security during these trying times.
“When discussing data privacy, we must also consider data security – you can’t have privacy without safeguarding it. And yet, according to research by Tenable’s Security Response Team, 2021 was another record year for cybersecurity incidents, and with it data breaches. A staggering 40,417,167,937 records were exposed worldwide in 2021, but that’s just an indication of the true number. According to the researchers, 87% of breach disclosures analyzed did not include any information on the number of records exposed, meaning this figure will be significantly higher,” said Bernard Montel, EMEA Technical Director and Security Strategist at Tenable.
“Towards the end of 2021, Check Point Research noted that cyberattacks against corporate networks had increased by a staggering 50% on the previous year globally and by 71% in the UAE. The education and research sector was the hardest hit, averaging 1,605 attacks per week, with government organizations, communications companies and internet service providers close behind. Even attacks on the healthcare sector were up 71% on pre-pandemic levels, showing nothing is off-limits to threat actors. In our 2022 Security Report, we also noted that email had become an increasingly popular vector for distributing malware throughout the pandemic,” said Ram Narayanan, Country Manager at Check Point Software Technologies, Middle East.
Any careless mismanagement of data will have devastating consequences for organizations including financial sanctions, reputational damage, and a loss of consumer trust. “Data Privacy Day is the perfect time for individuals and businesses to evaluate their data hygiene and security protocols to ensure their data is kept as safe and secure as possible. Check Point Software is beginning 2022 with a renewed focus that follows the mantra: You Deserve the Best Security. While adopting the kind of best security practices promoted by Data Privacy Day is vital, it’s only a baseline,” further elaborated Narayanan.
Data privacy rules have established the criteria and procedures that businesses must follow in order to be secure and compliant. The GDPR is the most notable of these regulations. Since its adoption in May 2018, the GDPR has had a significant influence on the worldwide privacy environment. The regulation was enacted to provide EU people more control over their personal data and to make businesses accountable for the acquisition, management, and processing of data.
The policy has had a knock-on effect, prompting many other nations to examine their own security and privacy rules. The California Consumer Privacy Act (CCPA) went into effect in the United States on January 1, 2020, to govern how businesses all over the globe handle the personal information of California consumers.
Over the past few years, Data Privacy has been incorporated into almost all the discussions like application of technology, data migration, digital transformation journey etc. The AppDynamics App Attention Index 2021, showed that for consumers, security is the number one component of a high performing ‘total application experience’
“90% (consumers) say that their expectation of brands to keep their data secure has increased since 2020. It goes to show that brands must go above and beyond to meet their users’ expectations towards security. In this post-pandemic era, a strong security posture means organisations have the necessary processes in place to protect their applications and their business from vulnerabilities and threats. In a world where sensitive data is constantly at risk of being compromised by malicious actors, they must be prepared and strengthen their security posture, enabling them to predict, prevent and respond to threats,” said Gregg Ostrowski, Executive CTO at Cisco AppDynamics.
Commenting on the importance of this day, Saket Modi, Co-founder & CEO of Safe Security said, “If the last few years have taught us something, it is the fact that digital security has an impact on both consumers and businesses. Whether it is the leaked credentials of customers on the Twitch hack or the leak of Pandora papers, data protection and cybersecurity are on top of everyone’s agenda. There was a surge of cyberattacks than ever before throughout 2021, and according to data from Check Point Research corporate networks saw 50 percent more attacks per week when compared to the previous year, and yet businesses continue to depend on traditional methods of cyber risk management.”
Although Data Privacy Day is only one day, strong data protection procedures should be maintained all year. Today should serve as a timely reminder that organizations must have strong policies and measures in place to preserve and secure data.