How can PDPA affect your business?
We hear now and then news that some major companies failed to ensure the safe storage of their user’s personal data, and it resulted in millions of users losing their personal data. Most countries now also have their own PDPA policies. So, business today must have proper safeguards in place to ensure that their customer’s personal data remains safe and out of reach of the wrong hands.
Data is more valuable than money right now
At an alarming rate, personal information is being shared online. It includes everything, such as the services we have subscribed to, the emails we send, the pictures we share on social media, and even the products that we purchase online. For the sake of convenience, there is a lot of information that we share online that is very personal to us.
Digital businesses always want data of this kind -it helps them pave the way to generate compelling analytics of the consumers that can lead to higher consumption of their services.
But as the data is being accumulated by these companies, it is posing a more significant question of whether they are well equipped to handle all these data or not? These doubts are the result of big data breaches and misappropriate use of consumer data. There are authorities around also that are educating the people on giving the services the data that is absolutely necessary.
What does PDPA mean for your business?
PDPA can be applied in cases where information by which any living individual can be identified is being shared. The processing of such data means that obtaining, recording, and storing such sensitive information about your customers.
As a business, you will be handling the information of your employers, suppliers, and, most importantly, your customers. It is likely, therefore, that your activities will be caught by the authorities that regulate the PDPA. If you are responsible for the data and somehow fail to notify your organization to the Information commissioner, your directors then can be criminally charged for this.
Thus the organizations need to be upfront with their customers about how the data is collected. They need to draft policies and cookies in such a manner that explains how the data will be store and for how long.
How does it affect your company?
Companies should make a habit to regularly store their information in separate storage to ensure their safekeeping. It becomes a criminal offense if you are storing the data in an unsafe manner; otherwise, there is nothing wrong with keeping personal data.
You can also outsource the document storage and ensure that you are following the data protection policy. The information commissioner had the right to issue a financial penalty if there is breach found in any of the data protection act’s principles. This is relevant when a company breaches any laws knowing what damages it caused but failed to take any countermeasures to prevent it.
Legally there it is not a criminal offense if you don’t entirely with the data protection act principles, but there are some significant downsides of being careless with people’s personal data. In most cases, people demand financial compensation for the harm done. But it is strongly advisable not to let mishaps like this happen as it can turn into awful publicity for your brand.
What can you do to protect your business?
First, in order to protect your business from any liabilities, you must ensure that all the legal obligations are met. You can also take a look at PDPA acts of other countries like Singapore, they are among the first countries to implement this. It is also advisable that you conduct regular audits to get rid of the data that you don’t need. It seems reckless on your part to keep the old data for long.
The policy you craft for your business should take into account your business requirements as well as the way it processes all the information. The system should also be able to address personal data leaks such as (data related to religion, sexual orientation, race, etc.). Here are a few pointers that will tell you why you need a data protection policy:
- It will help you keep the information you have about your customer secure
- Information handling in a right way improves your brand’s reputation in the eyes of the customer, and it will also gain you the confidence of your employees.
- Good information holding also reduces the complaint from the customers regarding any data leaks.