What you should know about data privacy

Understanding data privacy is vital not only for businesses navigating intricate regulatory frameworks but also for individuals who entrust their personal information to organisations daily. In this article, Princess Etuk examines the significance of data privacy and why you should be informed about it

A data breach refers to an incident in which secure, sensitive, and confidential information is accessed and exposed to an unauthorised and untrusted environment. The breach can be intentional or accidental. Technically, a data breach is a violation of security protocol for an organisation or individual in which confidential information is copied, transmitted, viewed, and stolen by an unauthorised person.

This occurs when unauthorised individuals gain access to data they are not permitted to view. Upon access, they can steal the data and sometimes modify it. The repercussions vary depending on the nature of the data breach, ranging from database destruction or corruption to the exposure of confidential information, intellectual property theft, and obligations to inform and potentially provide restitution to affected parties as per regulatory requirements.

The different types of data include the following:

Personally Identifiable Information: This includes data such as social security numbers, contact information, birth dates, education and other personal information.

Financial Information: This includes charge card numbers and expiry dates, bank accounts, investment details and similar data.

Health Information: This includes details on health conditions, prescription drugs, treatments and medical records.

Intellectual Property: This includes product drawings and manuals, specifications, scientific formulas, marketing texts and symbols, proprietary software and other material that the business has developed

Competition Information: This includes data on competitors, market studies, pricing information and business plans.

Legal Information: This includes documentation on court cases the company may be pursuing, legal opinions on business practices, mergers and acquisition details and regulatory rulings.

IT Security Data: This includes lists of user names and passwords, encryption keys, security strategies and network structure.

Threats targeting different types of data can come from your employees, from suppliers and consultants who have access to your network and from individuals outside your organization. They can access your data from inside your network, through external email accounts, mobile devices and the cloud if your business stores data there.

Causes of Data Breaches

Data breaches typically stem from vulnerabilities within systems and user actions. Hackers continuously seek out these weaknesses to exploit. The proliferation of smartphones and social media has heightened device interconnectivity, while rapid technological advancements often outpace efforts to bolster cybersecurity measures.

The following outlines various scenarios leading to data breaches:

Accidental Internal Breach: This occurs when an employee gains unauthorized access to a colleague’s information at the workplace or views data on a manager’s computer without permission. Despite not sharing the information, the unauthorised access still constitutes a breach.

Intentional Internal Breach: Involves an employee accessing company data, with or without authorization, with the intent to share it with unauthorized parties or cause harm for personal gain.

Physical Loss or Theft of Devices: Involves the loss or theft of devices containing sensitive, unencrypted information, potentially exposing it to unintended individuals.

Cybercrime: Involves cybercriminals or hackers conducting reconnaissance on an organization’s information systems before launching targeted attacks to breach and steal data for malicious purposes.

Drive-by download: Involves misleading users to unintentionally download malware by visiting compromised websites. It happens through exploiting out-of-date browsers, applications, and operating systems.

System vulnerabilities: Outdated firewalls and software pose vulnerabilities in the system, providing hackers with opportunities to infiltrate and deploy malware, leading to data theft.

Malware Attack: Targeted malware attacks leverage spam and phishing emails to deceive users into divulging their network credentials. Users may be coerced into downloading malicious attachments or directed to harmful websites via spam. Exploiting vulnerabilities in hardware and software security, malware operates covertly, with spyware being a specific type used to stealthily steal data.

Data privacy holds significant importance for several reasons:

Safeguarding Personal Information: Data privacy ensures the protection of individuals’ sensitive data, such as social security numbers, financial records, and health information, from unauthorized access. This protection helps mitigate risks such as identity theft, fraud, and other malicious activities.

Building Trust and Confidence: Prioritizing data privacy fosters trust between individuals and organizations. When companies demonstrate a commitment to protecting personal information, they establish a reputation for reliability and integrity, fostering customer confidence and long-term loyalty.

Ensuring Legal and Regulatory Compliance: Adhering to data protection laws and regulations, such as GDPR and CCPA, is essential for organizations to ensure compliance and avoid legal repercussions, hefty fines, and damage to their reputation.

Upholding Ethical Data Practices: Respecting data privacy is an ethical responsibility. Organizations must obtain proper consent for data collection, use, and sharing to demonstrate their commitment to respecting individuals’ rights and promoting transparency.

Driving Data-Driven Innovation: Data privacy fuels innovation by encouraging individuals to willingly share their data when they trust that it will be handled responsibly. This data can be used to derive valuable insights, drive personalized experiences, and advance research and development.

Empowering Individual Autonomy: Data privacy empowers individuals to maintain control over their personal information, allowing them to decide how it is collected, used, and shared. This respect for autonomy ensures that personal information is not exploited or misused without consent.

Today, major data breaches are a frequent occurrence, putting millions of customers’ data at risk of falling into the hands of criminals. Here are some essential tips to safeguard your personal information and prevent it from being compromised:

Generate secure passwords

Craft robust passwords by avoiding easily guessable combinations such as your birthday. Opt for a mix of uppercase and lowercase letters, numbers, and symbols. Periodically update passwords for enhanced security. Avoid reusing passwords across multiple platforms; consider using a password manager for efficient management.

Don’t overshare on social media

We all know someone who shares too much personal information online. Apart from being annoying, this habit can also jeopardize your privacy. Review your privacy settings to control who can view your posts. Exercise caution when sharing details like your location, hometown, birthday, or other personal information.

Be cautious using free Wi-Fi networks

A little online shopping never hurt anyone…or did it? Most free public Wi-Fi networks have very few security measures in place, which means others using the same network could easily access your activity. You should wait until you’re at home or on a secure, password-protected network before whipping out that credit card.

Watch out for links and attachments

Criminals in cyberspace are adept at crafting phishing scams that mimic genuine communications from banks, utility companies, or other reputable organizations. Look out for red flags such as spelling errors or email addresses differing from the usual sender, as these can indicate spam emails.

Data encryption

What you require is a data-focused solution that provides precise control over access to specific files and datasets. Encryption offers this level of control, but it must be implemented correctly. When a file or email is appropriately encrypted, you can dictate who has access to it at all times. This ensures that even in the event of a data breach where unauthorized individuals gain access, they are unable to read the encrypted data, effectively mitigating the risk of a data breach. Implementing such a solution can significantly reduce your exposure to data breach risks.

In summary, prioritizing data privacy is essential for protecting personal information, building trust, complying with regulations, upholding ethical standards, driving innovation, and empowering individuals. This focus on data privacy benefits both individuals and organizations by fostering a secure and responsible data ecosystem.