The Importance of Data Security in 2024
Introduction An organization comprises several sectors or departments. And the synchronization of all their activities makes the organization functional. How does the importance of data security come into play?. Data is an important part of every business and organization. It‘s use is versatile and broad. Organizations make use of data to know the pain points of their target audience, scope out the competition and do marketing. This article reveals the basics of data security and highlights its importance. Read on. What is Data Security? Data security is the process an organization takes to keep data safe from compromise, cyber attacks, mishandling, and other woes. All businesses, whether large, medium, or small, are at constant risk of data breaches—emphasis on ‘constant’. While SMEs think they aren’t on the target list, that couldn’t be more false. Small and medium businesses have proven to be easier targets of cyberattacks because they don’t have a comprehensive data security system. As a matter of fact, statistics show that SMEs will make up a large percentage of the total victims of attacks in 2024. Large corporations are not left out either, but they usually have better ways of securing data. Regardless, the financial implications of a successful data breach frustrate the big guns. The importance of data security goes beyond the one stated above. It is a legal requirement under several data protection laws, like the GDPR, NDPR, and the Data Protection Act of 2023. These laws mandate organizations to secure the personal data of employees and clients against unauthorized access, loss, and compromise. Failure to comply with the data security requirements of these laws incurs severe penalties. Differences Between Data Security and Cyber Security While the application of these terms overlaps, they cannot always mean the same thing. Data security is simply concerned with safeguarding data; on the other hand, cyber security protects the entire digital assets and computer system of an organization. For better comprehension, cybersecurity is the fence protecting the building (digital assets and computer systems) and data security is the door protecting a room (databases) in the building. Types of Data Security There are several ways you can safeguard data as an organization. You can use any combination of these methods you find suitable for your business. Below are some of the most common types of data security. Data encryption Data encryption is the logical scrambling of a dataset to prevent unauthorized parties from understanding it. This is perfect because hackers and other vile people cannot read it without a decryption key. Data erasure Data erasure is exactly as the name implies. After processing data for the intended use(s), you’ll need to get rid of them in accordance with the GDPR and NDPA. This method gets the job done without leaving a trace. Data backup Data backup involves storing another copy of the information on a secure external database. Do not mix it up with data storage. When you lose the original copy, you can easily retrieve the secondary copy as a replacement. This ensures data resiliency (continuity of data after loss or compromise). Data masking Although similar to data encryption, this method is a bit different. Rather than scrambling the data, some characters in the data are replaced with entirely different characters. This makes the information unreadable without the password. Authentication This is probably the most important type of data security. Here’s how it works. To access a particular data or database, authorized users must prove that their identity is accurate. This can be done with a login and password system. Biometrics like fingerprints and rectinal scans are further steps to authentication—two-factor authentication. Firewalls A firewall secures data by blocking access from certain IP addresses. importance of Data Security The importance of data security cannot be overemphasized. These are some reasons why you should take data security seriously in your organization. Unnecessary expenditure Businesses are always on the receiving ends of data insecurity. The reason why is that corporations have to spend significant amounts of money to reverse the damages inflicted during data loss, compromise, and theft. Aside from that, the owners of compromised data can seek to file lawsuits against the institution careless enough to lose data. Such actions take a toll on the company’s pocket. Automated attacks The importance of data security shows itself here. Hackers found an easier way to attack in the form of BOT attacks. It’s an automated system with which they can consistently raid your database without breaking a sweat. To combat this, all businesses need to update their data security systems. Reputational damage Absolutely no one would trust a brand known to always lose their data. Most data held by organizations is very personal and sensitive. Examples are names, bank details, health status, social media passwords, etc. The illegal release of such data is dangerous to its owners, as impersonations, targeted attacks, and online scams will be issued against them. Therefore, organizations need to secure data to protect brand image. Data integrity The integrity of data relies on its reliability and accuracy. This means that for data to maintain its integrity, it must be void of compromises or variations as much as possible. You can maintain data integrity through the centralization of data storage and putting it on various servers. This ensures that uncompromised data is available at all times. GDPR Compliance The General Data Protection Regulation is the law that guides organizations towards data protection in the EU. Although an EU law, the GDPR is regarded as the most comprehensive data protection regulation in the world. organizations In compliance with the GDPR, businesses and organizations have to implement foolproof data security systems. Why? The law penalizes defaulting entities with fines, sanctions, and even outright bans. Conclusion In 2024, data security will be a must for all organizations—small, medium, and large. With it, you can prevent financial loss and reputational damage in addition to complying with legal regulations like GDPR. endeavor to mount more data security methods in your organization; you’ll be better for it. Want more info on
Data Protection Bill: Know It Guidelines, Objectives and Penalties
In recent times, Nigerian businesses have engaged in a losing battle against data threats of all kinds: phishing attacks, malware, ransomware, etc. As proof, statistics reveal that in 2021, 71% of Nigerian firms were hit by ransomware, and small and medium businesses have it even worse. Additionally, phishing attacks on SMEs grew by 87% in 2022, compared to 37% in 2021. These attacks had terrible consequences as scams, impersonations, and loss of privacy became the norm. This situation discouraged foreign organisations from investing seriously in the country. The Director of Research and Development, Mr. John Dumesi, said, “Part of the findings and key threat trends we discovered are that data protection policies, enforcement, and disclosure practices are grossly lagging; there is a surge in corporate phishing attacks.” It became obvious that Nigeria needed a strong data protection policy, and in 2023, a data protection bill was passed by the Nigerian government. In this article, you’ll learn what the Data Protection Bill means for Nigerians. What is the Data Protection Bill in Nigeria? The data protection bill in Nigeria was passed into law as the Nigeria Data Protection Act (NDPA) on June 12, 2023, by President Bola Hammed Tinubu to protect Nigerian data from loss, compromise, and theft. The Objectives of Data Protection Bill, 2023 The data protection bill for 2023 came on the heels of the NDPR (Nigerian Data Protection Regulation). which was replaced due to insufficient policies and weak enforcement. The primary objective of the Data Protection Bill is to protect the fundamental rights and freedoms of data subjects by regulating the processing of personal data. The following objectives are as stated in the document:. “Protecting data subjects’ rights as well as providing means of recourse and remedies in the event of breaches; ensuring that data controllers and data processors fulfill their obligations to data subjects.” “Promoting data processing practices that safeguard the security of personal data and the privacy of data subjects; ensuring that personal data is processed in a fair, lawful, and accountable manner.” “Strengthen the legal foundations of the national digital economy and guarantee the participation of Nigeria in the regional and global economies through the beneficial, trusted use of personal data.” And finally, Establishing an impartial, independent, and effective regulatory commission to superintend over data protection and privacy issues and supervise data controllers and data processors.” Data Protection Bill Highlights The bill encompasses a broad range of laws, but here are the data protection bill highlights—the most important ones. Establishment of the Nigerian Data Protection Commission (NDPC) A law is only as effective as its enforcement. This statement is a known fact all over the world. As a matter of fact, lack of proper enforcement led to the NDPR cancellation. The Data Protection Bill made the necessary provisions for its own enforcement. According to Section 7 of the bill, the NDPC was established to: Promote awareness of risks to personal data and data protection measures. Including the rights and obligations granted under the Act. Ensure the use of technological and organisational data protection measures. Foster the development of personal data protection technologies in accordance with recognised international good practices and applicable international law. Promote awareness of data controllers and processors’ obligations under the Act. Data Processing Guidelines The guidelines are very straightforward. Data controllers and processors are not allowed to process sensitive personal data themselves or by a third party unless: The processing is necessary for exercising or performing the rights or obligations of the data controller or the data subject to underemployment, social security laws, or any other similar laws. The data subject has given and not revoked consent to the processing for the specific purpose or purposes for which it will be processed. It is necessary to protect the vital interests of the data subject or of another individual where the data subject is physically or legally incapable of giving consent. In the situations above, the Data Protection Bill has the following principles: Data can only be processed for lawful purposes, which must be stated clearly beforehand. The consent of data subjects must be obtained. Data subjects also have the right to withhold or withdraw consent at any point. The data collected must not be used for any other purpose other than the stated one. For no reason should personal data be stored beyond the necessary timeframe. Also, data subjects can request deletion or destruction of their data by data controllers. All data must be accurate, with inaccuracies corrected immediately. Lastly, the integrity of personal data must be kept with the utmost priority. The NDPC is tasked with enforcing compliance with the rules. Child Consent The bill caters to the data of all Nigerian citizens, children included. In the Bill, a child is an individual under the age of 18. Section 33 of the bill states that: The data controller must obtain the child’s parent or legal guardian before processing personal data. It also emphasises the use of government-approved identification documents to prove the child’s age and consent. Although this does not apply when: Processing is necessary to protect the interests of the child. The processing is carried out for medical or social care purposes by a professional or similar service provider with a duty of confidentiality. Data Breach Management Data breaches, as a constant threat, have gained the attention of the Nigerian government. So, the bill laid out a proper guide for its management. The Data Protection Bill mandates data controllers and processors to keep a record of all personal data breaches. In addition, data controllers are to report every data breach that occurs to the NDPC within 72 hours. However, this timeframe can be extended due to the legal needs of law enforcement. Data Protection Officer and Compliance Services Section 33 of the bill mandates data controllers and processors of “major importance” to have a data protection officer well-versed in the data protection laws and practices. The DPO can be an employee or outsourced from a data protection service consultancy. Also, the Data Protection Bill 2023 outlines the tasks of a DPO as follows: Advising the data controller, processor,
What to Know About Data Protection and Data Protection Principles
Understand data protection and its importance, know the best practices and regulations including top trends in the world of data protection
NDPR: An Overview of The Nigeria Data Protection Regulation
Organizations all over the world are facing a great challenge, “how to safeguard data”. The process of safeguarding data, known as data protection, is a delicate one. Companies, small, medium, and large, are exposed to data threats like cyberattacks, accidental loss, and compromise. Where the wrong persons access data, forgeries, targeted attacks, and impersonations are some of the consequences. This pushed countries—Nigeria included—to lay ground rules to guide organizations through protecting the data of their citizens. Examples are the NDPR, GDPR, UK GDPR, etc. In this article, you’ll learn all there is to know about the Nigerian Data Protection Regulation(NDPR) What is the NDPR? The full NDPR meaning is NIGERIAN DATA PROTECTION REGULATION. It is a set of rules guiding the protection of Nigerian data by organizations. The Nigerian Data Protection Regulation has four objectives, which are: Territorial scope of the NDPR Just like most data protection laws, its reach extends beyond Nigerian borders. The NDPR applies to any organization processing the personal data of Nigerian citizens (home or abroad), regardless of its geographical location. For instance, If an organization in the EU wants to process the personal data of a Nigerian citizen, it has to follow the NDPR. When was the NDPR Established? The establishment of the Nigerian Data Protection Regulation occurred in January 2019 by the National Information Technology Development Agency (NITDA). Who Regulates NDPR? In the initial stages, the NITDA was the regulatory body. However, there was a need to create a separate body for the NDPR. The NITDA was stretched beyond what was necessary. The Nigeria Data Protection Bureau (NDPB) was established as the regulatory body. The purposes of NDPB are: Principles of the NDPR The Nigerian Data Protection Regulation has some principles guiding organizations (data controllers) Consent Organizations must get the full consent of the data subjects before collecting, processing, and storing data. The subjects must give consent freely with no trace of foul play. The data subjects also have the right to withdraw their consent. Lawfulness Data can only be collected for lawful purposes. Organizations must clarify the reasons for data collection, processing, and storage. Such purposes should be clearly disclosed to the data subjects. Accuracy Another principle is Accuracy. All the data collected by organizations must be correct. Any inaccuracy should be rectified immediately. Data minimization Data collected can only be processed for the stated purposes. It is unlawful to process data for any reason contradicting the initial purposes. Security Organizations must take specific precautions to ensure data security. This includes measures against unauthorized access, disclosure, loss, and alterations of personal data. Rights of data subjects. Also, the NDPR has provisions for data subjects. Individuals have the clear right to halt the processing of their data. They can also request access, erasure, and correction. Differences between the NDPR and NDPA. NDPA stands for the Nigerian Data Protection Act. Its issuance was in February 2023. The NDPA is the current data protection law in Nigeria. Its issuance did not completely overrule the previous laws—NDPR and the Data Protection Bill. Rather, they were placed under its umbrella. While the NDPA covers most of the NDPR, it lacks the specificity of the latter. The major difference between the two lies in the definition of terms. In summary, the NDPA and NDPR are more similar than different. In times where there is a conflict between the two, the NDPA is supreme. NDPR and GDPR The Nigerian Data Protection Regulation (NDPR) and the General Data Protection Regulation (GDPR) are the regulations for data protection in Nigeria and the EU, respectively. When it comes to it, the penalties are different. Non-compliance with the GDPR comes with a fine of up to 4% of the annual global profit or €20 million, whichever is higher. The NDPR non-compliance penalty is less severe. A fine of up to 2% annual global profit or 10 million Naira, whichever is greater. Nigerian Data Protection Regulation is an adaptation of the GDPR. GDPR is more comprehensive, with a broader scope. In conclusion The Nigerian Data Protection Regulation is important for safeguarding data in Nigeria, and meeting international standards while addressing local needs. Compliance with the NDPR will help organizations avoid penalties and foster trust among the client community. Are you an organization looking to scale up your NDPR and GDPR compliance? You can reach out to us at Johan Consults and be sure to get the best.
