There’s no doubt that data privacy is a hot topic and almost daily we hear of cyber breaches where personal data has been compromised. The impact to individuals can be massive with long lasting negative effects to privacy, identity, credit score and social interaction. To the organisation the loss of trust, loss of customers and brand damage can last for many years with the true impact never fully realised.
In fact, some organisations have never recovered from a data breach and have ceased to operate. Many of us will recall the data breach on Yahoo! back in 2013 or the data breaches on Equifax (2017), Marriott Hotels (2018), and Facebook (2019) just to name a few. More recently and local to Australia, we have seen significant data breaches on Optus and Medibank. Some individuals caught up in these data breaches are still impacted by privacy and identity and credit score issues today. These organisations were made to pay large fines; but all of this could have been avoided if executives knew where all their privacy data was stored. Data breaches continue every day and they are becoming more frequent, larger in terms of privacy data stolen and larger in terms of impacted citizens.
Gartner® recently released their Top 8 Cybersecurity Predictions for 2022-23 and it’s interesting to note that the number 1 prediction is the global expansion of privacy regulations on organisation by governments. This is what Gartner® had to say.
“Through 2023, government regulations requiring organizations to provide consumer privacy rights will cover 5 billion citizens and more than 70% of global GDP. As of last year, nearly 3 billion individuals were covered under consumer privacy rights across 50 countries, and there’s progress on expanding privacy regulations globally. Gartner® suggests organisations track subject rights request metrics, including cost per request and time to fulfill, to identify inefficiencies and justify accelerated automation.”
If the frequency of breaches is increasing along with the the volumes of privacy data stolen and the number of individuals impacted, how then can organisations track subject rights requests and dramatically reduce the costs and time-frames to complete these tasks?
This is where DataBench can help organisations to map out and know where all the privacy data resides across your data stores and then automate the process of consumer data subject requests (such as, Show Me My Data or Delete Me requests) through to fulfillment within a matter of hours or days and not weeks or months. The DataBench platform is up and running in Australia, compliant with Australian, New Zealand and global regulations and is ready for deployment by your organisation within a matter of weeks.
For further details or to discuss how DataBench can help you on your privacy program journey please go to www.databench.com.au and click on ‘Get In Touch’.