Put a financial value on protecting data says ICO

The Information Commissioner’s Office is asking businesses and organisations to put a financial value on protecting personal information.

Yesterday the ICO, at the Data Protection Officer Conference in Manchester, launched ‘The Privacy Dividend’ report which provides organisations with a financial case for data protection best practice.

The ICO gives four main reasons for protecting personal information and being seen to do so.

It:

– can help to make an organisation’s operations efficient, agile and attractive to the public.

– helps to win people’s trust, and can enhance an organisation’s reputation

– can save people from the harm associated with privacy violations

– can give other organisations the confidence to work with you

Informationcommissioner Christopher Graham said: “No organisation can neglect toprotect people’s privacy. Not only is it the law, but there is also ahard-headed business imperative.”

Links:

ICO outlines business case for privacy – Kable