As we conduct business in an increasingly cloudy, mobile, and social world, it’s more important now than ever to take data security and privacy into consideration. Data is everywhere and its value is growing exponentially. But with data moving in and out of your organization so quickly—how can you keep it safe?
This is the perfect time of year to ask that question—today is Data Privacy Day. The National Cyber Security Alliance has coordinated various events in the United States and Canada to help facilitate discussions and raise awareness of data privacy and security issues.
In my opinion, the public and private sector must work together to combat the rising tide of data-hungry cyber criminals. Government legislation is and has been making strides toward mitigating cyber crime. In the U.S., 48 out of 50 states now enforce data breach notification laws, which require companies that collect or store personal identifiable information to notify customers if their information is compromised.
And, in Canada, mandatory data breach notification may soon become federal law. The Canadian Parliament is currently reviewing Bill C-12, a proposed update to Canada’s existing privacy law, the Personal Information Protection and Electronic Documents Act (PIPEDA). At present, PIPEDA currently does not contain any breach notification provisions.
However, as we all witnessed in 2011, legislation alone cannot protect data. According to an upcoming study from the Identity Theft Resource Center (ITRC), previewed in advance by Information Week, in 2011, there were 419 breaches publicly disclosed in the U.S., affecting a staggering 22.9 million records.
This means we still have A LOT of work to do. And, consumers are losing patience. They hold businesses directly accountable for the loss of their personal data and continue to bring class action lawsuits against organizations. This consumer unrest is likely to fuel additional legislation that may punish companies financially for losing customer data. Corporations have to take responsibility.
Here are three key recommendations for protecting customer data:
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