Data Privacy Day: Business leaders must first define their data strategy
As the world marks Data Privacy Day, cases of system infiltration and data breaches remain a worrying trend as unprepared organizations continue to fall victim leading to catastrophic losses. Mooted to raise awareness and promote privacy and data protection best practices, Data Privacy Day serves as a reminder of the need for organizations to prioritize data protection.
To mark this all-important day, MENews247 sought key views from industry players on its importance:
“As we commemorate Data Privacy Day, data protection remains a hot topic that needs a collective approach toward reducing data breaches and cyber-attacks. As the world becomes more dependent on data, scores of organizations are increasingly becoming targets with some falling victim to breaches worth millions of dollars.
Some of the most recent data breach cases occur after cyber attackers gain access through an API. This is a trend that has emerged even as more companies increasingly shift their data management strategy to primarily used cloud storage and applications. As organizations integrate cloud2cloud interconnections, deployment complexity continues to grow. This is because most companies still need to be equipped to deal with imminent cyber-attacks thanks to misconfigured on insufficient protection for their APIs.
A crucial point worth raising is that ransomware has shifted to stealing and exfiltrating data recently. Attackers know that having this data and threatening to release it can be more devastating than encryption, which can be fought with backups. The most effective way to deal with such threats is adopting a holistic view and a solution like data loss prevention, which can significantly help potential targets mitigate the risks.
Passwords remain the number one defense when it comes to protecting data. As an authentication mechanism, a strong password is what stands between an organization’s valuable data and millions of dollars in losses, not to mention a bad reputation. Sadly, we still see many companies with authentications (aka passwords like 123456) and no multi-factor authentication applied. This is a disaster waiting to happen!” – Candid Wuest, VP of Cyber Protection Research, Acronis
“To ensure that data privacy becomes a common practice, business leaders must first and foremost define their data strategy. It is essential to have a plan which outlines how data is managed, especially in a hybrid cloud environment. Key among its top consideration should also be how the organization plans to implement a ‘privacy-by-design’ approach into their overall data strategy.”- Wim Stoop, Senior Director, Cloudera
Last Updated on 1 year by Dan Ngiam
