https://indexdataroom.blog/types-of-private-equity-the-basics/

It doesn’t matter if you’re a customer or a business owner, data is your most valuable asset. It’s important to protect it from cyberattacks or loss, as well as theft. Security of data and privacy is essential. It isn’t always easy to distinguish between these two concepts.

Data security is the set of guidelines tools, techniques, and procedures employed to safeguard personal information from unauthorised access. This includes encryption, multifactor authentication, and monitoring of user data. Additionally, it allows to transfer data between different environments and software applications. Privacy of data is the right of an individual to manage their data and how it is used. This includes limiting data collection and storage and giving users the option of deleting personal information and complying with relevant laws and regulations, such as GDPR and CCPA.

Sensitive data can include personal information, like name, address or address, birth date medical history or credit card information. These information can be used by criminals to commit crimes, or they could be sold to marketers without your permission. This is a violation of your right to privacy, which is guaranteed by the laws protecting data.

Data breaches can cost businesses enormously, both in terms of reputational and financial damages. Apart from paying penalties and fines for data breaches, a breach of security can result in long-term negative effects on customer trust. By incorporating privacy and data security within your company, you can ensure that your data stays safe and avoid costly cyber-attacks.