WE are definitely a trusting nation. Think about it. On any given day we are willing to part with our private information, trusting the organisation to protect it with all their might.
And we don’t think for a second that these sacred facts will be left on a train or posted to someone else’s address.
Are we to blame for being naive? No we aren’t. We take businesses into our confidence when we share this information and they are supposed to value this as much as we do.
Organisations aren’t putting enough effort and funds into the protection of personal information. In the last few months alone details have emerged of new data leaks from city councils, hospital trusts, banks, lawyers, the Student Loans Company and even MI5.
From laptop theft through to careless disposal policies, it is clear many companies are leaving the protection of data to chance.
In response to this, the Information Commissioner’s Office issued The Privacy Dividend report, urging businesses to be proactive and invest in data protection protocols.
This is a complete turnaround. At last there is a business case justification for proper investment in privacy protection rather than reactionary spending after the fact.
The report details a plan for businesses to assess and implement a protection plan for their data, whether it’s the calculation of the value of personal information to the benefits of privacy protection.
But these protections must be built into the company’s core business. There are no halfway measures when it comes to protecting private information.
Having preventative measures in place will not only improve your compliance with the law but will also promote loyalty and reduce potential financial risks.
Trust is a tricky business – when you have it it’s invaluable but when you lose it, it’s nearly impossible to get back.
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