Data security is about protecting data from unauthorized access, which could result in identity theft, fraudulent credit card charges or privacy intrusion. This includes encryption of sensitive data using access control, and using multi-factor authentication to make sure that only authorized employees have access to sensitive information like passwords or PINs.
On the other hand privacy protection concerns individuals having the right to exercise control over their personal information collected as well as shared and transferred. This includes the ability for users to request deletion, modify their information, and control how it’s used. Also, it requires compliance with regulations such as GDPR or CCPA.
Both are essential to the operation of an enterprise, despite the distinction between security and privacy. Trust in customers is at stake when companies leak sensitive data and leak private information to unauthorised individuals. Having a solid data privacy policy and procedure can minimize the frequency of breaches, allowing companies to avoid expensive fines, penalties and lawsuits.
The first step in ensuring security and privacy of data is to define and categorize all sensitive information that an organization has including personally identifiable information (PII) and non-PII. This process can be aided by conducting formal risk assessments and regular security audits. Using a data discovery tool can also be a useful method of finding out the information available and how employees are accessing it. A policy framework that covers every aspect of the organization’s collection, storage, use and sharing of data can improve data privacy and security.