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Submitted by anitaRiskpro on November 26, 2022

What is Data Privacy?

Data privacy is the ability to control who can access your data and how it is used. It is an important part of information technology and is important for both individuals and organizations.

Why is data privacy important?

Data privacy has always been a concern. As more of our data becomes digitized, and we share more information online, data privacy is becoming more important.

Keeping private data and sensitive information safe is a top priority. If personal data like financial information, healthcare information, and other consumer data are not properly secured, it could lead to dangerous consequences. Lack of control over access to personal information can put people at risk of fraud and identity theft.

Data Protection vs Data Privacy

Data privacy is concerned with who can access data, while data protection focuses on making sure that data is protected from unauthorized access. Data protection tools and processes use specific policies to protect the privacy of data.

Data privacy is responsible for the policies and regulations that protect data. Data protection establishes mechanisms to guard data from unauthorized access or alteration.

India Data Protection Bill 2021

It is anticipated that the Data Protection Bill 2021 will pass and formally enter the Indian Parliament as the Data Protection Act 2021. It outlines the duty of data fiduciaries, the rights of data principals, and the consequences of non-compliance.

Additionally, it creates a Data Protection Authority with the power to implement the law and make sure that all data fiduciaries operating in India or working with Indian residents' data are acting legally.

Both personal and non-personal data are covered by the Data Protection Bill 2021. Any information pertaining to a natural person that could be used to identify them in terms of characteristics, qualities, attributes, and features is referred to in the Bill as "personal data." Any data that is not personally identifiable is referred to as "non-personal data." An individual can be profiled by using a combination of all this information.

All processing of personal data that has been "collected, released, or shared" on Indian territory or by an individual who is under Indian law is likewise covered by this rule. If the acquired data is used for any commercial purpose within India, it also applies to all data subjects that are not based in India.

Conclusion

Data breaches that continue to expose the personal information of millions of individuals are one reason why data privacy is such a major public concern in the digital world. It might be difficult to find the right balance between an individual's right to privacy and the requirement to use personal data for business objectives.

Taking data privacy for granted is no longer an option for businesses. A data breach can have a number of negative impacts, including financial loss, regulatory fines, and reputational damage. Companies that keep and use financial, health, and other personal information must now protect the privacy of that data.

 

Author
Sonali Thakur
Associate - Sales and Marketing
RiskPro India
(July 2022)