10 Ways Companies Can Protect Customer Data

The potential for effective data-based marketing with these augmented databases is enormous. At the same time, concerns about customer privacy have never been greater as a result of numerous published privacy attacks, such as the recent Facebook Cambridge Analytica scandal. Consumers’ 대전오피 responses to these privacy violations range from the increasing reluctance to share their data to the massive erosion of brand confidence. For example, when Yahoo’s three billion user accounts were hacked, Verizon reduced the purchase price for the company by $ 350 million.

When companies decide to protect user data, they are seen more as a problem of legal compliance or a business need, not as a matter of user rights and ethics. Start communicating in detail the steps your company is taking to keep customer information safe. As part of this process, teach consumers how to use your product or service with the best cybersecurity practices.

This approach also prepares infrastructure environments for future process developments. In order to act quickly when violations occur, organizations want to test their crisis response processes in advance. People who will be involved in the response need to be identified and a sound communication strategy developed. One of the highest predictors of consumer confidence is the speed of reporting and the company’s response to violations. In fact, most new regulations require companies to disclose violations very quickly; For example, the GDPR requires the announcement of an offense within 72 hours of its discovery.

Children need parental consent to data collection and annual consumers must provide confirmatory consent and acceptance for the collection of their personal data. Legislation, on the other hand, has applied high standards for data privacy protection in Europe. For example, in 2018 the European Union adopted the General Data Protection Regulation, which unified privacy legislation for data across the EU, and updated existing laws to better cover modern data collection and exchange practices. The emergence of internet trading and big data in the early 2000s shed new light on privacy issues for consumer data. Consider giving laptop users access to confidential information only, but not storing the information on their laptops.

The FTC may take legal action against companies that violate customers’ privacy policies or companies that compromise their customers’ confidential personal information. It also provides resources for those who want to learn more about privacy policies and best practices, as well as information for victims of privacy-related crimes, such as identity theft. The FTC is currently the body most involved in the regulation and defense of data privacy in the US. Determine if you need to install an “edge” firewall where your network connects to the internet. A border firewall separates your network from the Internet and can prevent an attacker from accessing a computer on the network where confidential information is stored. Set up “access controls” settings that determine which devices and traffic are going through the firewall, so that only reliable devices with a legitimate company can access the network.

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