In it was revealed that the data from million Yahoo! The data included account names, email addresses, telephone numbers, and dates of birth. It was a big deal as suddenly every Yahoo! Questions started being asked about how these organisations were managing data, which data they stored, consent from customers, who could process it.
Following this, the European Parliament forced companies which were collecting EU citizen data to follow GDPR compliance — a huge revolution in data protection. As well as any other data that is related to a person. As the way we live continues to digitise, more and more data is created and stored — think about the remote office trend with physical meetings now being done via video conference, and customer service shifting to live chat, web call or messaging.
New technologies like 5G and the Internet of Things IoT are starting to create a lot of concern for some people about data privacy and security. Data security refers to the process of protecting data from unauthorised access and data corruption throughout its lifecycle. This includes data encryption, hashing, tokenization, and key management practices that protect data across all applications and platforms.
Examples of data security technologies include backups, data masking, and data erasure. In general, a data fiduciary — as a direct relationship with the Data Principal, i. An example can be thirrd party email companies such as Mailchimp or Sendgrid. Data Protection Authority: It is an independent body. If a company has no presence in India, the PDPB still applies if the company: Offers goods and services to individuals in India, or Profiles individuals within India Takes payment in rupees Ships products to India Advertises to Indian customers What is surprising is that if you are a company that uses personalized advertising, and your website is accessible in India, then you should comply with the PDPB.
Like us on Facebook and follow us on Twitter. Financial Express is now on Telegram. Click here to join our channel and stay updated with the latest Biz news and updates. You might even have sensitive information such as medical data. And you have to protect it. This is because if personal data falls into the wrong hands, people could be harmed. Depending on the situation, they could become victims of identity theft, discrimination or even physical harm.
A data breach can mean bad news for organisations. Whilst financial penalties could cause major setbacks for organisations particularly SMEs and start-ups an arguably more serious consequence of a data protection breach is damage to your business' reputation. The resultant breakdown of trust could impact relationships between your business and its customers, potential customers, suppliers, and employees.
With an increasing amount of personal data stored online, on electronic devices, and in The Cloud, cyber-crime is a growing concern of data protection practices. Implementation of good data protection practices reduces the risk that hackers will obtain the personal data that your business processes and stores, thus reducing the risk of misuse by malicious third parties. Remember, most organisations also process and store large amounts of data about their employees — and protecting this data is of paramount importance.
In-house data breaches could cause havoc regarding sensitive data that could be used for blackmail purposes or against equality and diversity principles. Whilst the hacking attempt began in July , it was only revealed in July The company claimed that it had only just discovered the breach and accordingly complied with the obligation to disclose the breach to the ICO within 72 hours of discovery.
Hackers attempted to compromise 5,, credit and debit cards, , of which were non-EU issued cards without chip and pin protection. As the scandal hit the news, Dixons Carphone saw an immediate drop in their share price, which is still recovering.
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