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.
– 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.”