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.”
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