It’s no secret that we’re living in an increasingly digital world. More and more, our lives are being lived online—which means that our data is being shared with corporations, governments, and other entities more than ever before. While there are some advantages to this increased digital connectivity, there are also some serious risks. That’s why data privacy should matter to you. Databand’s data observability platform is just one of the many platforms that can help you monitor and keep your data safe.
Data Breaches Are On The Rise
One of the most compelling reasons to care about data privacy is that data breaches are becoming increasingly common. In 2017 alone, there were over 1,300 data breaches in the United States—a 44 percent increase from 2016. And those numbers continue to rise; in 2018, corporate giants like Facebook, Marriott, and Saks Fifth Avenue fell victim to significant data breaches. What hope do we have if large companies with seemingly unlimited resources can’t protect our data?
What Is Data Privacy Legislation?
Data privacy legislation protects consumers’ personal information from being mishandled or stolen. This legislation restricts companies’ consumer data collection, use, and storage. In some cases, it also gives consumers the right to know what personal data is being collected about them and to have that data erased.
Why Is Data Privacy Legislation Being Proposed?
Data breaches have become increasingly common, with high-profile incidents regularly making headlines. As a result, there is growing concern about how companies handle consumers’ data. In addition, many countries are enacting or proposing data privacy legislation to comply with the European Union’s General Data Protection Regulation (GDPR). The GDPR requires companies to take steps to protect consumers’ data from being mishandled or stolen. It gives consumers the right to know what personal data is being collected about them and to have that data erased.
What Does Data Privacy Legislation Mean for Companies?
Data privacy legislation can impose significant restrictions on how companies collect, use, and store consumers’ data. In some cases, it may require companies to obtain consumer consent before collecting their data. It may also require companies to notify consumers if their data breaches. Failure to comply with data privacy legislation can result in hefty fines and other penalties.
Why Data Privacy Should Matter
Here are three reasons why data privacy should matter to you.
Data Privacy Protects Your Personal Information
When you hear about a data breach, you probably think about exposing your personal information. And for a good reason. Data breaches can leak sensitive information, like your Social Security or credit card number. This can put you at risk of identity theft and fraud.
One of the most common reasons why data privacy is important is because of identity theft. When your personal information is taken without your permission, it can be used to open new accounts, make purchases, or commit other crimes—all in your name. This can ruin your credit score, cause financial damage, and be emotionally devastating. If you’re a victim of identity theft, you may feel violated, helpless, and exposed. That’s why keeping your personal information safe and secure is so important.
Another reason to care about data privacy is fraud. When criminals have access to your personal information, they can use it to commit all sorts of fraud—from draining your bank account to filing false tax returns in your name. Fraud can cause financial damage and stress and take a long time to recover. Protecting yourself from fraud is essential to keep your personal information safe and secure.
Data Privacy Protects Your Online Reputation
In today’s digital world, your online reputation is essential. Employers, clients, and customers will often Google your name before doing business with you. Seeing negative articles or posts about you could affect their decision to work with you. Data breaches can lead to negative information being spread about you online, which can damage your reputation.
Data Privacy Protects Your Mental Health
Worrying about your personal information being leaked or damaging your online reputation can affect your mental health. Stress and anxiety are common reactions to data breaches. Worrying about data privacy can also lead to insomnia and other sleep problems.
Data privacy should matter to you because it protects your personal information, online reputation, and mental health. If you’re concerned about data privacy, you can take steps to protect yourself, like with Databand’s data observability platform, like using strong passwords and being mindful of the information you share online. Remember, if you wouldn’t want it plastered on a billboard for all to see, don’t post it online.