Home
/
Our Insights
/
Article Detail
/
Home
/
Home
|
Login
Our Team
Our Expertise
Our Insights
BOOK CONSULTATION
SUBSCRIBE
Our Team
Our Expertise
Our Insights
You can share this article in the following networks2:
Why securing your data makes business sense
17 April 2020
518
“My business collects and stores quite a large amount of client data. We were recently nearly hacked and were lucky that no information was leaked. I’m concerned about another attack and worried what would happen if information was leaked. What should I do?”
It is well recognised that the way we do business and interact has radically changed in the current digital age. Businesses operate online, have social media accounts and trade with consumers that never set a foot inside their store. Customers also review, rate and make decisions about a business based on their online credentials. The more data a business processes the larger also the target painted on the back of the business for potential hackers, scammers and fraudsters.
In this digital world consumers have understandably also become increasingly concerned about privacy and the security of their digital footprint and make engagement decisions based on the perceived risk level of the business. Nothing scares off consumers more easily than a business that appears to have been compromised, is not safe to engage with or appears open to hacking or other online malfeasance. Recent studies have gone so far as to predict that nearly two-thirds of consumers would likely end a business relationship with a company whose data security in respect of personal information has been compromised.
This makes data security and privacy a vital aspect of any business today, with a failure to do so potentially attracting massive reputational damage and loss of business. Businesses cannot ignore the need to take steps to protect the personal information of its customers. With the introduction of the Protection of Personal Information Act 4 of 2013 (“POPIA”), this need has now also been legislated requiring all businesses that process personal information of customers to secure and safeguard such information.
POPIA obliges businesses to ensure data security by taking appropriate and reasonable technical (electronic) and organisational (physical) measures to prevent loss, damage, unauthorised destruction, unlawful access to, and/or unlawful processing of personal information. To do so, businesses should consider generally accepted information security practices and procedures as well as any specific practices and procedures that may be required in terms of industry specific rules and regulations that apply to the business.
In addition to physical and electronic security measures, a business must also implement an appropriate data governance framework, including policies and procedures to ensure that their employees have a clear understanding of data security and their obligations in this regard.
If your business has not yet taken the necessary steps to prepare for such compliance, particularly if you are already being targeted, it can only be recommended that you not delay and obtain advice from data protection specialists to help you get the necessary procedures and measures in place to protect your business, reputation and client information.
Previous
Are there any sector codes for POPIA yet?
Next
Can a director have a proxy?
Share:
Talk to us
Get in touch with us to discuss how we can help you with your challenges
Get in touch
Related Insights
Small Credit Agreements - What are they and what interest can be charged
Debt Collection
Default Judgment? What should I do to clear my Credit Record?
Popular Insights
Dont' lose your Title Deed
Does your husband’s Nyatsi qualify to be a beneficiary in terms of Section 37C of the Pension Fund Act?
Who inherits under a Deceased Estate when there is no Will?
Recent Insights
The purpose behind the path of law
The furtherance of justice, a historic view
Small Credit Agreements - What are they and what interest can be charged
You can share this article in the following networks:
Offices
+27 57 916 6666
Back to top