Data Protection Key Concern For Businesses Worldwide

Adopting privacy-first practices – such as multi-factor authentication, regular audits, data minimisation and anonymisation, encryption of data in transit and at rest, and real-time threat detection – helps organisations mitigate risks

About 82 per cent of Indian consumers consider the protection of their data one of the most crucial factors in building trust with businesses

Data Privacy Day, observed on January 28, serves as a global reminder of the importance of protecting personal information in an increasingly digital world. It highlights the need for individuals and organisations to prioritise data security, foster transparency, and adopt responsible practices to safeguard sensitive information from cyber threats.

Talking to Bizz Buzz, Harsha Solanki, General Manager, Asia, Infobip says, "Data privacy has become a critical concern for businesses worldwide. About 82 per cent of Indian consumers consider the protection of their data one of the most crucial factors in building trust with businesses, showcasing the importance of prioritising data security among businesses of all sizes. At Infobip, as a global cloud communications platform, we comply with privacy regulations in every region we operate, including GDPR, CCPA, and POPIA. We drive compliance strategies, train employees, build a culture of data protection, implement privacy requirements, conduct regular controls, and ensure adherence to global data protection laws”.

The Digital Personal Data Protection (DPDP) rules in India present businesses with an opportunity to strengthen customer trust. Investments in robust data protection measures enable companies to safeguard customer data effectively. Adopting privacy-first practices – such as multi-factor authentication, regular audits, data minimisation and anonymisation, encryption of data in transit and at rest, and real-time threat detection – helps organisations mitigate risks while fostering customer loyalty in an increasingly digital landscape.

Additionally, incident response planning is crucial for securing customer data. By leveraging advanced technologies like AI, machine learning, and end-to-end encryption alongside privacy-first practices, organisation can not only mitigate risks but also differentiate them and build brand credibility, essential for sustainable growth in today's digital economy.

Ravi Bhushan, CISO and Grievance Officer (Data Privacy) at Wibmo, a PayU company, says, "With the rapid expansion of digital payments, businesses face an increasing threat from ransomware attacks that can compromise sensitive financial data and disrupt operations. Protecting your business requires a proactive approach, including robust encryption protocols, regular security audits, employee training, and multi-factor authentication. Data backups should be conducted frequently and stored securely to ensure quick recovery in case of an attack."

Compliance with regulatory frameworks such as PCI-DSS is crucial in safeguarding customer data. By investing in cybersecurity measures and staying informed about evolving threats, businesses can mitigate risks and ensure the integrity of their digital payment systems, fostering trust and reliability among their customers.