why are data protection and regulation important

There are companies linking together all of those little tidbits of information about you that you have entered in various websites over the years. They need your credit card details or bank account number to check payment. For that reason alone, data protection should be a top priority for any company. In short, you should be able to decide whether or not you want to share some information, who has access to it, for how long, for what reason, and be able to modify some of this … The Filter Bubble. Data protection regulations ensure the security of individuals’ personal data and regulate the collection, usage, transfer, and disclosure of the said data. Remember, most organisations also process and store large amounts of data about their employees – and protecting this data is of paramount importance. This We use cookies to improve your online experience. Compliance Knowledge Base | Data Protection Training. For information on the cookies we use and for details on how we process your personal information, please see our cookie policy and privacy policy. Following the introduction of the Data Protection Act 2018 (DPA 2018), organisations have been subject to modernised and extended regulations that aim to protect personal data for years to come. 7 (2014). https://www.fsb.org.uk/resources-page/why-is-data-protection-so-important.html Its role is to supersize the power of the UK Data Protection Act 1998 (DPA). GDPR (General Data Protection Regulation) is Europe’s new privacy law. Feel free to share this article but please credit DeltaNet and link back to this page.Please note that the views expressed in this article are that of the author and should not be considered legally standing. Privacy is the right to be left alone. With this little information, fraudsters can apply for loans and store cards in your name, racking up massive debts, and even bankruptcy. 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. What is Data Protection and Why Is It Important? Decisions management makes are based on this data as are the work processes followed by employees to deliver quality products and services. When was the Data Protection Act introduced? Breaches of the DPA could result in fraud and/or identity theft, the crime rate for which is at an all-time high. As the scandal hit the news, Dixons Carphone saw an immediate drop in their share price, which is still recovering. Why data protection is important. By strengthening data protection legislation and introducing tougher enforcement measures, the EU hopes to improve trust in the emerging digital economy and secondly, the EU wants to give businesses a simpler, clearer legal environment in which to operate, making data protection law identical throughout the single market (the EU estimates this will save businesses a collective €2.3 billion a year). In what has been a veritable deluge of data protection-related developments, we now have in our midst, as of 25 May 2018, a brand-new, homegrown iteration of data protection legislation; the Data Protection … Now that you can see why it’s important, you need to decide what kinds of data protection in the workplace is right for your company. Learn more. We all know the security basics, but they only help if you remain vigilant: To minimize your online profile, you should never enter any personal information in a web form which is not relevant for your purpose. 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