Businesses collect a great deal of data regarding their customers and clients. This data is highly sensitive and should be secured from attacks by hackers. Also, it should be secured from misuse and exploitation for profits.
To stop cyberattacks and data breaches, it’s essential that businesses implement data security measures like authorization and encryption. It is also crucial that they adhere to international privacy laws such as GDPR or CCPA.
It’s important to recognize that privacy and security are two distinct terms. Data security is the process of safeguarding data from unauthorised access. This includes hackers and insiders. It also shields the data from manipulation, modification and destruction. It also has authentication processes like multi-factor authentication, as well as encrypting the data to prevent it from being stolen. It also has security features like audit trails and automated policies enforcement.
Privacy is the control of access to personal information. It is focused on the rights of consumers as well as how companies handle data. It contains guidelines on how data is collected, shared and used. In addition, it requires companies to be transparent with their customers and users. It also provides remedies for when problems arise.
It’s nearly impossible for companies to not collect and storing a large volume of information about customers and users. However, if the data is accessed into the wrong hands, it can lead to identity theft, fraud and loss of loyalty to customers. It could even put the security of individuals and nations at risk, their livelihoods in danger and their reputations at stake.
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