Why Data Privacy Is Important to Businesses: Top Reasons You Should Know
l’ll be the first to admit it— I’ve lost count of how many times I’ve mindlessly clicked ‘agree’ to some lengthy terms of service without reading the fine print. But the truth is, our personal data is scattered all over the internet. It’s even scary to think about who might have access to it. Sadly, it’s not just our own curiosity that gets us in trouble. Companies, hackers, and even governments are all trying to get their hands on our personal information. So, what’s the big deal? The truth is that data privacy is important. This is because, at its core, data privacy helps us gain control over our lives. What is Data Privacy? Data privacy refers to the right an individual has to control their personal information. This includes how it’s collected, used, shared, and protected. It is also about ensuring that sensitive data is handled with care, respect, and transparency. According to Statista, over 60% of the world’s population makes use of the internet. From this research, it’s clear that data privacy is important. Now more than ever, websites, apps, and social media platforms are more involved in collecting and storing personal data of users. This is done to provide quality services to users. However, some websites and platforms collect and use more data than the required data to access. This reduces users’ privacy and exposes them to risk. Aside from accessing more data, some of these platforms don’t invest in safeguarding the data collected. This can lead to a data breach, compromising user privacy. Due to this, data privacy is important. Why is Privacy Important for Businesses? With our data scattered over the internet, data privacy is important to keep us safe while we surf the web. Businesses need to ensure that their customers can trust them with their data. To achieve this, you can make use of data protection practices. According to research, about 60% of individuals are willing to spend more on a company that they trust to handle their personal data responsibly. So, if you want to keep your customers, data privacy is important. Below are various reasons why data privacy is important: Differences Between Data Privacy and Data Security The terms “data privacy” and “data security” get thrown around like they’re interchangeable. But here’s the truth: they’re not the same thing. And as a business, you need to understand the difference. Data privacy as earlier said, is about giving individuals control over their personal information. It’s about respecting their autonomy and dignity. Data security, on the other hand, is about keeping your data safe from cyber threats, identity theft, and financial fraud. Data security is important, but it’s complete without data privacy. If you’re not prioritizing data privacy, you’re still leaving your customers vulnerable. And in today’s digital age, that’s just not acceptable. If you want to build trust with your customers, you need to prioritize both. Data Privacy Laws and Regulations As a business owner, it’s essential to understand the various data privacy laws that govern the collection, use, and protection of personal data. Here are some laws and regulations to keep in mind: What Challenges Do Users Face When Protecting Their Data Online? Users encounter numerous obstacles when trying to safeguard their personal information online. Some of the key challenges include: Websites often use cookies, pixels, and other technologies to monitor your browsing history, and online activities. Because of this, most countries require websites to alert users of cookie usage. However, the extent of this tracking may not be transparent to users. When you use numerous online services, your data may be shared with third parties without your knowledge. This automatically limits your control over how your data is used. Social media platforms make it easy to find and share your personal information. This information can be collected and used by the platforms in ways you may not be aware of. Hackers target personal data to commit fraud, gain access to secure systems, or sell it illegally. They use tricks like phishing, malware, and ransomware to get you to reveal sensitive information. They also use these tricks to gain access to company systems, which can lead to severe consequences. What Challenges Do Businesses Face When Protecting Users’ Data Online? 1. Difficulty in Communication Sometimes, businesses find it difficult to inform their customers what data they are collecting and storing. They also find it difficult to explain what the data is used for. To overcome this, businesses must use clear and concise language in privacy policies and terms of service. 2. Cybercrime Businesses that collect and store user data are at more risk of getting attacked by cybercriminals. Knowing how important data privacy is, these businesses would have to implement strict security measures such as encryption and firewalls. 3. Data Breaches Data breaches can have severe consequences for businesses and their customers. To reduce the risk of users’ data being compromised, businesses should also regularly monitor for suspicious activity. They should also respond quickly to incidents. How Johan Consult Can Help You Protect Users’ Data As a business, understanding why data privacy is important is necessary in order to gain customers’ trust and retain them. Customers are known for sticking to brands that are concerned about their privacy. So, to stay ahead of your competitors, you need to carry out certain data practices. If you’re looking for a data privacy company that can help your business secure users’ data, Johan Consult can help. At Johan Consult, we specialize in data privacy services to help businesses safeguard user data. Our services include developing tailored policies and procedures. We also conduct comprehensive data protection audits and risk assessments and implement robust cybersecurity solutions.
What Is Database Activity Monitoring (DAM)? Benefits, Features, Techniques And Software
All organizations have one major life source in common: data, and it’s constantly under siege with cyberattacks by malicious actors. A successful instance of such attacks leads to data breaches, which typically spell doom for businesses. Eventually, the consequences of data breaches, such as identity theft, online scams, financial implications, and reputational damage, pushed organisations to data protection. As a key component in protecting data from external threats, organizations emphasize data security. Data security is a very complex procedure, and owing to the large database most entities possess, the risk of a data breach is almost 100%. Common threats to databases are: SQL Injection: The use of malicious SQL codes to manipulate databases for information access. These are one of the most common web hacking techniques. Malware Attacks: These use software embedded in the database to disable it or steal information. Denial of Service attacks involve flooding a database with queries to stunt or shutdown its performance. In this article, you’ll find information on Database Activity Monitoring, its architectures, features, examples, and a DAM solution checklist. What is Database Activity Monitoring? Any solution used to monitor and analyze database activity in real-time. It is a compilation of tools that help identify and report illegal and negative activities with minimal impact on user operations. The process of monitoring database activity has gone past analyzing user activity in and around related database management systems. Nowadays, DAM works by combining several methods like memory scraping, network sniffing, database audit logs, and reading system tables to paint an accurate picture of the database activities. Why Do Organisations Need DAM? Most databases have one problem, It’s the lack of records. Should a cybercriminal wiggle his/her way into the database, they have enough access to carry out their crimes and wipe out all traces undetected. Considering that data breach discovery already takes too much time, the case above further lengthens the time frame. So, organizations, especially the large ones, need a system that actively monitors each and every activity on databases in detail. Benefits of Database Activity Monitoring Keeps a log of database activities; every activity is recorded, including the identity of the person. Ensures compliance: This is an aspect overlooked by many organizations. DAM is important, since 137 out of 194 countries have laws and regulations to guard the data of their citizens. DAM helps organizations comply with laws like NDPR, CCPA, and the revered GDPR. These regulations carry serious penalties, such as fines and sanctions for non-compliance. Implements division of labor amongst data administrators Generates alerts for data breaches: a lot of times, data breaches occur at the hands of unauthorized entities. DAM alerts the administration of instances of unauthorized access in real time. Key Features of Database Activity Monitoring There are certain features that define DAM. Some of them are as follows: Enhanced data privacy: proactively identifying vulnerable data Automatic identification and classification of different types of databases, such as RDBMS, NoSQL, in-memory, distributed, and big data systems. Safe storage and auditing of database activities and logs in a location separate from the monitored database. Better insight into application traffic and greater accountability for end users. Facilitation of informed decision-making through advanced analytics and reporting. Cross-Platform Compatibility: Supports on-premises, cloud, and hybrid environments. Common Challenges In Database Activity Monitoring Although DAM has been established as an essential part of data security, there are a few hurdles that make its implementation difficult. Encrypted Data: many data are encrypted to prevent unauthorized access. While it’s a welcome data security practice, it can mask both legitimate and suspicious activity. Large Volume of Data: some organizations hold large volumes of data. This may strain database activity monitoring systems. System Performance Impact: use of profilers, logging, and agents can slow down the performance of the database system. Database Activity Monitoring Tools and Techniques Database Profilers: These tools help to understand the database workload by tracking performance metrics such as; CPU Usage Memory usage User sessions Resource pools Connection statistics Query performance Buffer Cache details System and user errors Automated Monitoring Solutions: Examples, Datadog and Nagios, are perfect for continuous oversight of databases. They watch over performance metrics non-stop and give red alerts for suspicious activities. Common Database Activity Monitoring Architectures There are 3 main architectures to implement DAM, which are interception-based, memory-based, and log-based. Interception-Based Most DAM systems in the present day monitor databases by intercepting the communication between database server and client. This interference can happen at several points, like, Database memory level Network level Operating system level Database library level This type of architecture can prove too slow to catch unauthorized queries. Memory-Based Some DAM systems use a small, simple tool that links to secure databases. This tool constantly checks a part of the system where data is stored (SSystem Global Area-SGA) to collect and monitor SQL commands as they run. This approach provides comprehensive coverage of all database transactions. It can also be used to secure databases regardless of their locations (cloud or any IT infrastructure). Log-Based Some Database Activity Monitoring (DAM) systems can retrieve valuable information by inspecting the logs that record changes to the database. These logs keep track of all the changes and can provide useful details about the transactions that have occurred. By analyzing these redo logs, they can gather a lot of important data. A downside of this architecture is that not all the data needed for DAM is stored in redo logs. Therefore, the system will need augmentation from native audit trail information. Database Activity Monitoring Tool Checklist This is a checklist organizations can use to select a DAM tool most suitable with minimal effects on their databases. Should provide real-time ongoing monitoring of all SQL traffic, including network-based SQL traffic. Should be able to start a TCP when blocking a session to ensure the database remains unchanged. Should be able to send alerts over multiple channels. Should use minimal network bandwidth when checking incoming SQL statements to the gateway. Should not take up more than 3% of CPU and disk resources. Top Database Activity Monitoring Tools Varonis IBM Guardium SolarWinds Database
A Comprehensive Guide to Data Security for SMEs
As the new goldmine, from the moment data is collected, stored, and processed, it is susceptible to cyberattacks. While large businesses might be too large a target for cybercriminals, the same can’t be said for small and medium-scale businesses. This is why knowing about data security is important for all businesses. In 2022, the Cyber Security Expert Association of Nigeria reported that cyberattacks on SMEs grew by 87%. The result of these statistics is evident: impersonations, identity thefts, financial thefts, and targeted attacks. This calls for more actions regarding data security amongst SMEs. What is Data Security? Data security is the process of safeguarding digital data from external threats (corruption, theft, and unauthorized access) to its integrity. It is important at every stage of data’s lifecycle—collection, processing, and storage. Often used interchangeably with data protection, it is not the same. Data protection is the entire process of safeguarding data from accidental loss or compromise. Basically, data protection focuses on safeguarding data from inside threats—mishandling and accidental loss. While data security keeps the bad guys out—unauthorized access and cyber attacks. Why is Data Security Important To SMEs? There are a handful of reasons why data security is important to SMEs. Top on the list are the legal implications of a successful data breach. Organizations are held accountable for data collected and processed under data protection laws. Under each one of those laws, businesses have to fulfil certain obligations towards data security. In the event of a data breach, the organization faces the full wrath of the law. Data subjects may also sue the business. There are also reputational consequences to consider. Data breaches cause so much damage to the reputation of the affected business. That’s something no business wants. Under the NDPR and GDPR, businesses are mandated to announce every data breach occurrence within a set timeframe. A weak data security system will cause any business to make such announcements regularly. It’s the business equivalent of the “walk of shame.”. And, of course, the financial costs of a data breach. Money and time will be spent to correct the effects of the attack. Since the entire data security system will be evaluated and updated. Most small and medium businesses cannot afford the costs of a data breach. So, adequate data security should be implemented. The 3 Pillars of Data Security There are three major elements, or principles, of data security, also called the CIA Triad. They serve as a template or framework for an absolute data security system. Here’s what they mean: Confidentiality: Data is accessed only by authorized users. Integrity: All data stored must be accurate, reliable, and not changed unwarranted. Availability: Data must be available and readily accessible when needed. Data Security Technologies for SMEs The right set of data security technologies is beneficial to Preventing data breaches in small businesses Data Auditing Data-auditing software solutions are just like spycams. They record everything from who accessed what information to control changes. Such software solutions are necessary for all small and medium-scale businesses to have. In the event of a data breach, it is easier to figure out the problem(s) with data auditing. Data Risk Assessment A data-risk assessment always carries out a thorough job. With it, sensitive data is discovered, along with potential threats to it. A data risk assessment goes the extra mile in preventing data breaches in small businesses by recommending remediation pathways. Data Real-Time Alerts Discovering a database takes far too long for organizations. Oftentimes, these reaches are discovered by customers and other third parties With real-time monitoring systems preventing data breaches in small businesses becomes easy, as SMEs get data breach alerts immediately. This helps to reduce data loss, destruction, and unauthorized access. Data Minimization The more data you have, the riskier it becomes. That is why data minimization is a data security technology. Always hold on to necessary data only. Data Security Regulations and Compliance Data security is such an important phenomenon that regulations for it have sprung up all over the world. What is the need for data security regulations? It is necessary to provide a clear data protection or security template to organizations. Also, to protect the rights of data subjects, such laws have to be laid down. That way, any organization defaulting can be held accountable. Important Data Security Regulations As a growing business willing to go the extra mile to secure data, it’s of utmost importance that you understand regulations. Here is a small compilation of data security regulations you need to know. The most popular regulation is the GDPR (General Data Protection Regulation). It was enacted in the European Union to ensure proper data protection for its citizens. The main focus of the GDPR is personal identifiable information (PII). It requires every organization handling EU data, in or outside the region, to practice premium transparency. The GDPR is not to be trifled with. It imposes dire punishments on any organization found to be non-compliant. A fine of EUR 20 million or up to 4% of the annual global profit, whichever is higher, can be imposed on offending parties. NDPR (Nigerian Data Protection Regulation) This regulation is an adaptation of the GDPR. The major difference between the two is scope. Established in 2019, the NDPR aims at protecting personal data that belongs to Nigerian citizens from loss, compromise, and unauthorized access. Payment Card Industry Data Security Standards (PCI-DSS) This regulation applies to any business that handles credit card data. Be it acceptance as a payment method, storage, transmission, or even third-party service involvement,. Unlike the GDPR and NDPR, it is not imposed by a government body. PCI-DSS is enforced by an independent regulatory body called the Payment Card Industry Security Standards Council. Data Compliance vs. Data Security Compliance Oftentimes, data compliance is mistaken for data security compliance. The former concerns the entity rules and regulations applicable when handling data. While the latter, data security compliance, is a subset of data compliance,. It is restricted to the security aspect of handling data. In a nutshell, data security compliance is a type of data compliance.
Why Transparency Is Important in Data Breach Management
In March 2020, statistics showed that Cyber scams increased by 400%, and this trend did not improve in 2023. This statistic simply means that we are at more risk of getting our personal information stolen or misused. Therefore, effective data breach management is more important than ever. Imagine waking up to find that your personal data has been stolen and used for unexpected purposes. Extremely scary right? That’s exactly what we deal with as we become more reliant on technology. For this reason, customers need to have effective data management strategies to protect customers’ data. However, while safeguarding your system from these breaches is not 100% guaranteed, effective data breach management strategies can help build trust. Also, you can let your customers know whenever a breach occurs. Do Customers Really Need to Know? Sometimes, companies believe their customers do not need to know when their data has been stolen or misused, but I strongly disagree. Whenever a customer shares their information, they absolutely trust that you’ll protect their data. So, when their data gets stolen, that’s also a breach of trust and you’ll have to show them that you have their interest at heart. As a company, once your customers’ data is stolen, you’d have to contact a body that handles cybersecurity issues in your country within 72 hours. After placing the report, you can then proceed to check what data was stolen. If you find out that the data stolen was just your customer’s name or the data won’t put them at any risk, then there’s no need to inform them. This is the only exception when a data breach occurs. On the other hand, if you discover that the stolen data poses a risk to your customers, you need to inform them. Your company can do this by making a formal announcement. For example, Twilio experienced a data breach that exposed 33 million phone numbers belonging to Authy users. This breach was discovered in June 2024 after a hacking group called ShinyHunters shared a file they claimed to contain numbers of Authy users. When Twilio discovered this, they made a public announcement on July 1 to inform their users and the public about the breach. Furthermore, Twilio went on to inform the 163 customers who were affected. Due to Twilio’s transparency, only a few percent of their customer base got discouraged. However, they were still able to gain customers’ trust which is a core part of data breach management. Should Companies Be Held Responsible For A Data Breach? Sometimes, it isn’t always clear who to blame whenever a breach occurs. A data breach can either occur due to human error or an error from the company. But in most cases, the company usually shoulders the blame. Here’s why. Whenever customers put their data into a company’s system, they expect that the company will be responsible for protecting their data. Some of these customers aren’t even aware that certain things they do can open them up to risk. So, they end up blaming the company for not taking appropriate precautions to prevent the breach. However, even if the company gets sued for the breach if it’s a larger organization, the CISO — Chief Information Security Officer or anyone in charge of the company’s data security will face the repercussions. This is because the CISO is responsible for making decisions on data security. Aside from the CISO, other people that could be blamed for any data breach are employees. Employees if not trained can become victims of phishing attacks. Because these attackers tend to use data from discarded drives to trick employees into sharing private information. Why Companies Should Be Transparent With Customers After Data Breach In 2016, Uber fell victim to a massive cyber attack that compromised the personal data of millions of users. Instead of promptly notifying the public, Uber opted to conceal the breach and paid a ransom to the hackers. This decision ultimately led to a loss of customer trust, legal consequences, and a tarnished reputation. When the news of the breach finally surfaced in 2017, Uber faced intense backlash and criticism for its lack of transparency and failure to safeguard user data. The company’s handling of the breach resulted in a significant loss of customers and a damaged brand image. Importance of Transparency in Data Breach Management Below are the reasons why companies need to be transparent with their data breach management with consumers. 1. Helps Build Trust By being open and honest about the breach, companies demonstrate their commitment to transparency and accountability. This eventually helps to maintain customer trust. Trust is a fragile asset that can be easily lost when a data breach occurs, but transparency can help mitigate this loss. Additionally, when companies are transparent about a breach, they show customers that they value their relationship and are willing to be vulnerable. This vulnerability can actually strengthen the bond between the company and its customers. By being transparent, companies can rebuild trust and emerge stronger from the experience. 2. Transparency in Data Breach Management Shows Empathy Transparency in data breach management procedures acknowledges the potential harm caused to customers. It shows empathy and understanding of their concerns. Whenever a company is transparent about a breach, it shows customers that it understands the potential impact on their lives. Also, empathy can help customers feel seen and heard, which can reduce anxiety and frustration. Furthermore, when companies acknowledge the harm caused, they can take the first step toward healing and rebuilding trust. Empathy is an essential component of transparency, and it can help companies go through the crisis more effectively. 3. Provides Clarity Clear communication helps customers understand what happened, what data was affected, and what steps they can take to protect themselves. Clarity is essential in a crisis, as it helps reduce uncertainty and anxiety. When companies provide clear communication, they enable customers to take action and protect themselves. Clear communication also shows customers that the company is committed to transparency and accountability.
