According to Pew Research Center, around 70% of U.S. adults are concerned about how their data is used.
Now more than ever, people care about their privacy and often act to protect their data from misuse. As a business, avoiding data privacy issues can ensure you have a better relationship with your users, who will be more likely to trust you.
In this guide, we take a look at the top 3 data privacy issues for businesses and how to avoid them.
Data privacy concerns protecting individuals’ rights to control their personal information and decide whether it can be collected, used, and shared by companies.
Data privacy laws allow individuals to get control over how their data is used and impose to businesses specific requirements to minimize the amount of data that they collect.
Learn more here 👉 Data Privacy vs Data Security: What’s the Difference?
Data privacy risks are many, but the most common are the following:
Let’s examine them one by one.
One of the first privacy concerns is cyberattacks. Did you know that someone falls victim to a cyberattack once every 11 seconds?
With the widespread digitalization of processes, cyberattacks and data breaches are becoming more and more common, and knowing how to prevent them is key to avoiding data privacy risks.
When we talk about cyberattacks, we refer to any deliberate attempt to compromise the security, integrity, availability, or confidentiality of a digital system, network, or data.
Some of the most common examples of cyber attacks include:
Avoiding cyberattacks requires special attention to your security measures. Having robust security measures in place can help you prevent cyberattacks, or at least make it harder for hackers to access your data.
But because cyberattacks can happen even with the most robust measures in place, it’s also a good idea to have a data breach response plan in place. In the event of an incident, you will know what to do immediately and be able to mitigate the effects of the attack.
Another popular data privacy issue is the lack of transparency with your users. Companies often forget how important trust is in a business relationship: it can really make a difference in how your business is perceived and thus impact your revenue.
Being transparent about your data practices helps users understand how you will use their data and make a more conscious choice about sharing it with you.
Being upfront about how data is used not only avoids misunderstandings but also demonstrates respect for customer privacy.
iubenda helps you with being transparent with your users, thanks to our simplified view of legal documents.
Users will understand at a glance what data you’re processing and why, without having to read a complicated legal document.
Lastly, another common data privacy concern is non-compliance with privacy laws.
Failing to comply with data privacy laws is a costly mistake that many businesses cannot afford. Not only non-compliance can result in damage to your reputation, but it can also lead to hefty fines.
For example, certain fines for non-compliance with the EU GDPR can reach €20 million or 4% of a business’s annual worldwide turnover.
Compliance can be tricky, especially when you don’t know where to start. Moreover, it’s an ongoing process that you should monitor periodically.
As you can see, privacy is more than a legal requirement; it’s a critical factor in your business success. By addressing privacy issues, you can create a safe environment for your users and build lasting relationships rooted in trust and accountability.
Our full suite of tools is designed by professionals to help you manage your compliance and avoid risks. From legal documents to consent management, consent records and registers of processing activities – iubenda has everything you need to start your compliance journey.
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