How Important is Data Privacy?

In the 21st century, consumers take for granted that if they want to do any type of interaction with companies, organizations and even departments of government, they will be doing it via computer. 

While the increased usage of computer systems, provides a very efficient way of handling and organizing large amounts of data and information, it also exposes individuals to the threat that private and personal information they have shared with a financial, governmental or healthcare institution, for example, will be accessed by a third-party without their permission.

There are several key reasons why data privacy is important.

• Any organization that collects private information has an ethical and legal duty to protect the personal information they have collected from individuals, employees or corporations. Identity theft is one of the fastest growing crimes over the past decade, made possible when credit card numbers, Social Security numbers and even personal medical files that are stored online are able to be accessed by unscrupulous third parties intending to use that information for illegal purposes. Companies that collect and store personal data from clients and customers online are actually required by law to protect that data from being stolen.

• Information illegally accessed results in breach of data privacy and can damage the reputation of an individual or even a company and its brand. Bank accounts can be quickly emptied and credit cards used to make unauthorized purchases in the thousands of dollars, ruining an individual's credit score and ability to buy a house, obtain a loan or obtain additional credit.

• When the information an individual has provided to a company or agency and stored online is illegally accessed by a third party, that third party gains access to information they have never been authorized to obtain. This can lead to marketers using stolen information to pitch their product or services to customers due to the knowledge these marketers have gained only because they have violated data privacy laws. By accessing personal information, hackers can access emails, personal phone numbers and addresses, and other information that is stored on personal computers.

Conclusion

Companies that collect and store personal information online should provide clients with an unqualified guarantee that they will do everything possible to keep the data they have collected secure and private. Individuals should investigate the reputation of any company that they share personal data with online as it pertains to that organization's ability to successfully safeguard the personal information of their clients.

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