The ever-increasing amount of data collected by organizations around the world is raising concerns around privacy and could pose a threat to any organization with respect to regulatory compliance. Further complicating the issue are multiple data systems, shadow IT, and the use of personal devices (BYOD).
THE RISKS OF DARK DATA
Data is power. Collecting customer data is a core part of most businesses. Regulations are creating a need for responsible usage of personal data – not complying with regulations like GDPR can result in fines, withdrawal of license, and lower credibility with regulators and customers.
The rate of change continues to increase as new case law is deployed clarifying existing requirements and new obligations arise such as the California Consumer Privacy Act of 2018 and Brazil’s Lei Geral de Protecao de Dados Pessoais (LGPD) of 2019.
RISKS OF BEING OUT OF COMPLIANCE
LOSS OF TRUST
This is the number one scare for most organizations. If customers do not trust you with their data, they will not do business with you.
If a breach occurs, your organization will be in the news and it will damage reputations and diminish trust. No organization wants to be known or remembered for the breach that occurred and the data they lost.
Although not the most important consequence according to many organizations, these are still very important and could have a substantial impact on doing business.
DATA SAFETY QUESTIONS TO PONDER
If you have any responsibility for your organization's data security and answered ‘I don’t know’ to any of these questions, read on for recommendations on possible next steps and assistance.
RECOMMENDATIONS AND NEXT STEPS
LABEL SENSITIVE DATA
Organizations have many different types of sensitive information under their control such as financial data, proprietary data, credit card numbers, health records, or social security numbers. Microsoft 365 identifies this data using sensitive information types. There are three solutions to help you protect and govern sensitive data:
GET FAMILIAR WITH PRIVACY REGULATIONS
A Data Risk Check helps you quickly answer the question of where your sensitive information is. Only if you know what you have and where it resides, can you start to think about managing, controlling, and protecting. Reach out to learn more about our Discover Sensitive Data Workshop.
In the meantime, check out our informational video on how to use the M365 Secure Score.
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