In the digital age, where every click, like, and share is recorded, data privacy has become a crucial concern for individuals and businesses alike.
In an era where data is the new oil, it’s crucial for individuals and businesses to understand the importance of data privacy. Data privacy, or information privacy, is an aspect of information technology that deals with the ability of an organisation or individual to control what information in a computer system can be shared with third parties. This article will delve into what data privacy entails, why it matters, and how you can protect your data.
Understanding data privacy
What is data privacy?
Data privacy involves the handling and protection of sensitive data such as personal identifiers, financial information, and health details. It is about respecting the preferences and autonomy of individuals regarding the use of their personal information. It also involves compliance with data protection laws and regulations.
Although often intermingled, data privacy and data security are two different things. Data security refers to measures put in place to safeguard your data from being compromised by malicious attacks, whereas data privacy governs how data is collected, shared, and used in the digital ecosystem that is now increasingly inevitable in daily use.
Why does data privacy matter?
Data privacy is crucial for protecting individuals’ rights and freedoms, particularly their right to privacy. It is a key aspect of trust in relationships between businesses and customers, employers and employees, and service providers and users. Breaches of data privacy can lead to financial loss, damage to reputation, and legal consequences.
India’s data privacy laws
The Digital Personal Data Protection Bill, 2022 (DPDP) is a pivotal proposed legislation addressing data protection. Though not yet approved, the bill combines suggested amendments and previously omitted provisions, signifying a substantial effort to tackle contemporary technological challenges effectively.
Meanwhile, the existing Information Technology Act of 2000 lacks coverage for cybercrimes like cyberstalking, cyber fraud, and chat room abuse, while also inadequately addressing privacy and content control issues amid escalating internet-related risks.
How to protect your data?
- Be cautious about the information you share online. Avoid posting sensitive information on social media or other public platforms.
- Use strong, unique passwords for all your online accounts.
- Regularly update your devices and applications to ensure you have the latest security patches.
- Be wary of phishing attempts. Don’t click on suspicious links and avoid downloading attachments from unknown sources.
- Use a virtual private network (VPN) to encrypt your internet connection when using public Wi-Fi.
- Consider using encryption for your emails and other forms of digital communication.
- Regularly backup your data to mitigate the impact of potential data loss or breaches.
Instances of data misuse
There are several instances where data was mishandled or breached by corporations. Apart from monetary loss, lack of data privacy leads to loss of consumer trust and puts consumers in a vulnerable position which is uncalled for.
- Facebook – Cambridge Analytica: An infamous data breach instance, on March 2018, when major media outlets released news concurrently that there was a data breach at Facebook – where Cambridge Analytica, federal data analytics, and a consulting firm based in London UK, procured private data from millions of Facebook users. The public outcry caused a $100 billion loss in retail funding for Facebook within a week. This data breach summoned stricter laws for tech companies’ usage of private data.
- Google fined 57$ million under Europe’s data privacy law: Europe, termed as the world’s most aggressive ‘tech watchdog’ by NYT, fined Google, a whopping 57$ million for not disclosing or providing transparency to their users on how their data was being used, shared and collected across Google’s services such as its search engine, maps and YouTube.
- Morgan Stanley: An ex-financial advisor from Morgan Stanley confessed to procuring confidential data from hundreds of customers and taking them to a competitor. This data breach was further compromised as the accused’s computer was hacked and this confidential data stored was published online by malicious digital attacks.
In the digital age, where every click, like, and share is recorded, data privacy has become a crucial concern for individuals and businesses alike. Understanding and prioritising data privacy is not only a legal requirement for businesses but also a moral obligation. For individuals, it’s a crucial step towards safeguarding personal information in an increasingly digital world. By being informed and proactive, we can all contribute to a safer and more privacy-respecting digital environment.
