2018 has seen the biggest shake-up in privacy in 20 years. Changes to regulation in Australia and the EU privacy is now a top priority for organisations, businesses and government agencies alike. Today’s technology age comes with heightened consumer awareness around the collection, use and protection of their data, resulting in a community expectation that organisations are handling information appropriately.
KPMG has developed a series of videos on data privacy including practical steps for organisations to comply with the new privacy regulations, questions executives should be asking about data privacy and what to do if you have a data breach.
Data is an organisations greatest asset. It’s critical that organisations understand data privacy changes and what action they should be putting in place. We’re seeing organisations move away from big data to lean data with some undertaking data minimisation projects. In case of a data breach, the more data you hold, the greater the risk to your trust, liability and your brand.
It’s critical that data flows be mapped and there is transparency over the data. A strong privacy compliance program should address consent, privacy management, access and use of the data. What information is your organisation collecting? How is your organisation using the data and how is it being accessed? Who will the data be shared with – what third parties or even fourth data parties?