All You Should Know About Data Privacy and Its Importance

Over the last decade, the usage of the internet has increased. Likewise leading to the importance of data privacy too. The various social medial platforms, mobile applications, and even websites collect personal data about a user to accordingly provide best-in-class services. What needs to be understood is that there are applications and various platforms that sometimes may exceed the data collection expectation. It may leave the user with less privacy than they realize. Besides, there is a possibility of applications and other platforms may not have sufficient protection around the data that is being collected. This may easily result in a data breach wherein the privacy of the user is compromised.

What Does Data Privacy Mean?

In simple words, data privacy refers to the protection of personal data from anyone who has no access to it. This personal data or information could be an individual’s contact information, location, or information about their online world. From the common man to big corporates, everyone is at risk. To remain secure from any cyber crimes, invest in a suitable cyber insurance policy.

Why is Data Privacy Important?

Privacy is fundamental to every human. There are various laws considering data protection to protect the interest of the citizens. Data privacy is crucial for any individual trying to engage online as they trust that their data of them will be handled with care. Personal data can be used in many ways if an individual does not keep it private or follow the right practices.

1. Hackers can use personal data to harass or defraud the user
2. The entities possibly sell personal data to outside parties without the consent of the user. This way the user receives unwanted advertising or marketing communication
3. Keeping an eye on, tracking, and monitoring the activities of a user also restricts them to express themselves freely

Activities like these are harmful to any individual. From a business perspective, it can harm the reputation of the company and at times also lead to penalties and other legal implications.

Common Challenges That Individuals Face While Protecting Online Privacy

Here’s a quick rundown of the challenge that individuals usually face while safeguarding their online privacy:

1. No Control on Data: With a plethora of online services, there are times when an individual isn’t aware of the data being accessible beyond the website. There is no control at times as to what is happening with their data.
2. Online Tracking: The user behavior is monitored at times. Cookies mostly record the activities of the user. There are times when the website alerts the user of the usage of the cookies. There are chances that the user has no idea of the degree that cookies are recording the activities.
3. Social Media: In this digital age, it has become so easy and convenient to find anyone online using various social media platforms. Besides, the social media account reveals so much about a person. Users often don’t even realize that these platforms collect more data than they are aware of.
4. No Transparency: To use various applications, users are asked to provide various important personal information. This includes the name, contact number, email address, etc. The privacy policies that are associated with such web applications are not only dense but also difficult to understand.
5. Cyber Crimes: Digitization has its advantages and disadvantages. There are attackers/hackers in the online sphere that steal the data of the user. These are used to commit cyber fraud and use it to carry out various malicious practices. Some people use phishing attacks and trick the user to reveal personal information and commit cyber fraud.

Common Challenges That Businesses Face While Safeguarding User Privacy

Now, let us have a look over the challenges that businesses usually face when it comes to protecting user privacy:

1. Data Breach: Any sort of data breach can result in an extreme violation of user privacy. Once personal data gets leaked, it becomes easier for the attackers to refine their techniques and cause breaches whenever feasible.
2. Lack of Communication: Companies at times struggle to communicate to their users about what kind of personal data they are collecting and the intent to use it.
3. Cyber Dependency: The more the use of the internet in an organization, it's the easy target for attackers. The more the business is internet-connected, the more attacking surfacing increases likewise. Employees should be careful with data accessing and sharing as the repercussions could be extremely damaging.

The Bottom Line

Ensure that two-factor authentication is enabled as its one of the most imperative technology for a user. It makes it difficult for the hacker to gain unauthorized access to any personal accounts. At the same time, it's important to understand that technology alone isn’t adequate to secure data privacy. For optimum online protection, consider including cyber insurance coverage and remain secure. Regularly access the privacy settings of your account both personal and professional. Use strong and unique passwords for all your accounts and do not share them with anyone.   *Standard T&C apply. Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.