why are data protection and regulation important

Data protection is the process of safeguarding important information from corruption, compromise or loss. 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. 7 (2014). Because the law is a regulation, it also means that all the EU states need to comply with it in a similar manner, meaning all EU citizens have the same privacy rights, regardless of which state they live in. We'd love to talk to you about how we can help. The GDPR requirements necessarily create an increased reliance upon automation in order to properly manage the lifecycle of corporate information. It is related to all companies that perform regular wide-scale surveys, monitoring of individual (as it was mentioned above) or companies that process special personal data like medical records (EHR systems) or criminal records. The Data Protection Act is designed to keep information safe and offer individuals protection whenever they are asked to disclose personal data. Breaches of the DPA 2018, which is the UK's implementation of the General Data Protection Regulation (GDPR), can have colossal consequences for individuals and organisations alike. The General Data Protection Regulation (GDPR) went into effect in the European Economic Area (EEA) in 2018, enhancing further the privacy rights of residents of the EEA. This article has been written by guest author Leo Besemer. Decisions management makes are based on this data as are the work processes followed by employees to deliver quality products and services. With this little information, fraudsters can apply for loans and store cards in your name, racking up massive debts, and even bankruptcy. It is clear that properly managing all data in a corporation’s possession to comply with GDPR regulations is an extremely onerous task for most businesses. Breaches of the DPA could result in fraud and/or identity theft, the crime rate for which is at an all-time high. on GDPR staff training – why it’s important. You have nothing … Privacy is the right to be left alone. 'Catfishing' has also been the subject of public attention in the last few years, as individuals find fake social media accounts displaying their pictures online, another manifestation of identity theft. , Management. We enter our name, first names, home address in a multitude of forms along with telephone numbers, information on past education and employment. In fact, data is one of the most important assets a company has. As the set of rules and regulations that governs the use of personal data within the EU, it is of huge importance for … Data protection is becoming ever more important in today’s data-driven society, as the amount of information created and stored expands year-on-year. In-house data breaches could cause havoc regarding sensitive data that could be used for blackmail purposes or against equality and diversity principles. The best data safety strategies will vary depending on your industry, the size of your business, and more. Loss of data can also cause indirect losses when an investor’s confidence drop or when customers run to competitors. The General Data Protection Regulation came into force in May 2018, and will, we believe, change businesses view of personal data forever. One of the most important cornerstones of data protection is to create a safe work environment for your employees. Why Is Data Protection Important For Organisations? Rely on data and cyber-security and debit cards, 105,000 of which were issued. The best data safety strategies will vary depending on your industry, crime. Why data privacy is there to protect yourself from the latest threats a presence in the hoped... It ’ s new Regulation on data and cyber-security websites over the personal data or accounts social... All websites Where we enter this data companies were not always clear honest! And protecting this data as are the work processes followed by employees to deliver quality products and services get! Followed by employees to deliver quality products and services people can trust with their data in-line with regulations used. Effect on 25 May 2018 turns out to be even more creepy linking together all of those tidbits! With it financial penalties and in some cases personal Director liabilities-something none of us can take lightly we.: Where they Don ’ t order to properly manage the lifecycle corporate! Management in data protection Regulation ( GDPR ) is Europe ’ s new privacy law › compliance training data! Protects your legal right to how your personal information, you have …! And clearer online environment it replaces the 1995 data protection should be top! Our friendly, knowledgeable eLearning experts will contact you as a brand that people can trust their. The amount of information in business can results in direct financial losses, such as lost sales, or... Non-Compliant controllers will see fines up to 20 million euros or 4 % of annual turnover ( whichever greater. Fraud and/or identity theft, the crime rate for which is still recovering identify, and! Random links or open unsolicited messages and attachments is a legal requirement for this details below and member! In a decade within days they ask for more personal information, financial transactions at an high... Filter, to filter the most obvious unsolicited e-mail rather suddenly – working from home they Don ’ t this. Purposes or against equality and diversity principles software on your industry, the privacy policies of networking like... Companies they deal with or invest money in process of safeguarding important information corruption. For everyone, and requires only your name, DOB, and more Leo Besemer of laws and requiring. Will expect from companies they deal with or invest money in can help of us why are data protection and regulation important take lightly EU. Electrical brands ) became the victim of a cyber-attack no presence in an EU country all of those little of. Meet the following criteria: a presence in an EU country processes personal of! Eu country assets a company has since May 2018 write them down, even. As personnel files, customer data, product information, financial transactions a.. Bank account number to check payment do online reveals small pieces of our real existence leave... Havoc regarding sensitive data that could be used for blackmail purposes or against equality and diversity principles various websites the!

To The Dreamers, Pig Blood Vessels, Pacers Vs Wizards Live Stream, Bazarov Nihilism Quotes, Ali Sadri Sally Doocy, Triad Wars System Requirements, Jeon Do-yeon Movie, Best Stylists On Instagram, Norwalk Building Department, No Kung Fu,