Data privacy refers to the policies, practices, and regulatory frameworks that have been put in place to protect individuals’ personal information from unauthorized access, disclosure, or misuse. Implementation of strong data privacy measures is a legal and ethical imperative, and is necessary for maintaining customer trust, meeting compliance obligations, and reducing the overall risk of identity theft and fraud.
Use case/ examples for data privacy
Data encryption: Safeguarding customer data both at rest and in transit, using techniques like encrypting payment details in an online transfer or transaction, securing API traffic between banking systems and third-party services, and protecting sensitive form data with real-time encryption.
GDPR Compliance: Implementing policies and controls that align with the General Data Protection Regulation (GDPR). For example, these include data minimization and purpose limitation, implementation of explicit consent requirements before personal information is collected, and maintaining audit trails to ensure the secure collection, storage, and processing of personal data.
