Did you know that according to the annual IBM Cost of a Data Breach Report, the global average cost of a data breach in 2023 is $4.45 million? International Data Privacy Day is celebrated annually on January 28 to raise awareness of the importance of privacy, highlight ways to protect personal information, and remind individuals and organizations of the importance of data privacy. It's critical for businesses to be transparent about the data they collect and create a culture of privacy within the organization.
Small and medium-sized businesses should ensure that best practices are followed, such as:
Be transparent about how personal information is collected, used, and shared. One of the best ways to build trust in data privacy practices is to be transparent about how you handle personal information. You should explain in your privacy policy what information you collect, why you collect it, how you use it, and how you share it.
Personal information is valuable, and you should protect it. The data entrusted to you has not only a monetary value, but also a reputational value, which is directly influenced by the way you process your data.
In addition, on this Data Privacy Day, we recommend that you evaluate your own personal privacy. Here are some steps you can take to ensure you protect yourself:
Never provide personal information via **, email, or text message.
Avoid using unsecured wifi whenever possible, and consider installing a virtual private network (VPN).
Keep your software up-to-date on all your computers and mobile devices.
Always use a strong passphrase that is unique to each account.
When you get any new device, set up your privacy settings right away.
Don't take quizzes that randomly ask about your childhood, children, tattoos, marriage, pets, and favorite foods.
Change your passwords regularly, especially if your account may have been compromised.
Never click on a link in an email from an unknown sender.
With the increase in remote work and virtual offices over the past few years, data privacy has become even more important. Remember to regularly assess your online habits and make privacy a top priority to protect yourself, your company, and your employees – don't be a statistic.