There is a lot at stake when it comes to data privacy. For organisations, protecting confidential data is crucial and forms part of its risk management. Protecting privacy is the foundation to maintain stakeholders’ trust in an organisation. Data lost in an organisation may result in devastating consequences to an organisation. Apart from that, data privacy protection will also mitigate the risk of costly incidents, reputational harm and regulatory penalties.
In Malaysia, there are 178 cases of data breach in 2019, almost a 200% jump than 63 recorded attacks the previous year, according to Malaysia Computer Emergency Response Team of CyberSecurity Malaysia. Some incidents saw some 46.2 million mobile subscribers’ personal records leaked out and sold in the dark web. Hence, organisations must ensure that security measures are taken to protect confidential data in their possession remains secured. Employees are also required to understand how to detect and prevent potential threats to manage data privacy risks.
This programme will discuss why data privacy is important. It will deliberate on key components to privacy protection, specific privacy laws and the risks and impact to organisations failing to protect data security and privacy.