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Was Your Personal Information Sold on Data Privacy Day?

Pathlock
February 1, 2016

Was Your Personal Information Sold on Data Privacy Day?

AdobeStock_71777183Wherever you and your employees go online, you’re being tracked. Your mobile device is even loaded with apps that trace your location, providing a picture of your personal and professional data privacy. Everything you do turns into data that is being collected. And there’s a lot of money to be made from it. For example, according to the New York Times, Target is able to identify new pregnancies with almost 90% accuracy based on analyzing purchases made from female customers such as vitamins, cotton balls and unscented lotion. This information is then used to send targeted promotions to those customers. According to IDC, the big data industry will increase to $48.6 billion by 2019. So how do you protect your company and yourself from the data vultures that want to profit off of your information? January 28th marked the 9th annual Data Privacy Day, an international effort to build awareness about the critical need for privacy and protecting personal information. Led by the National Cyber Security Alliance (NCSA) in North America, this event makes it clear that companies, vendors, partners and consumers all play a key role in data privacy. But new data privacy and regulations place the onus on companies to comply or face fines. This includes adhering to the EU Privacy Directive, a comprehensive set of rules to protect user privacy. It limits the amount of data that companies can collect, store, and process. Explicit user consent also must be provided in order for a company to share data with third parties, even if data is aggregated and made anonymous. As the NCSA points out, a major step towards data privacy for companies to take is to build trust with their customers. This includes being transparent about how data is collected and used. That trust also means that the data is protected from breaches and insider threats as well. Data Privacy Day helps bring these issues and concerns to the forefront. So how did you spend your day?