Why Data Protection is needed?

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Instances of data privacy violations, identity theft and personal information misuse have led to increased monitoring and consumer pressure to prevent disclosure or compromise of personally identifiable and sensitive information.

A case in point is the recent case where a researcher linked to Cambridge Analytica (CA), a political consulting firm had accessed details of 50 million Facebook users. The data was shared with Cambridge Analytica, which used online data to reach voters on social media with personalized messages and swayed 2016 US elections.

According to a report Demystifying the EU General Data Protection Regulation, by Pwc,  “As per estimates, there have been more than 575 reported data breaches which have exposed more than 13 million records in eight months in 2016.” In the backdrop of increasing concerns over data thefts and mishandling of sensitive information the government of various countries are formulating new policies to contain data leaks. The recent development is General Data Protection Regulation (GDPR) by European Union.

Respecting the Individual’s Data Privacy, Telecommunication Regulatory Authority of India (TRAI) suggests ‘Data security breaches may take place in-spite of adoption of best practices/ necessary measures taken by the data controllers and processors. Sharing of information concerning to data security breaches should be encouraged and incentivized to prevent/mitigate such occurrences in future.” Source : www.mbauniverse.com

A single company may possess the personal information data of millions of its customers. It needs to keep the data private so that customers’ identities stay as safe and protected as possible, and the company’s reputation remains untarnished. With the recent incidents of data breaches, data privacy has become a more important concern now than before.

 

 


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