https://indexdataroom.blog/virtual-data-room-comparison-for-companies-security/
Data security aims to protect data from unauthorized access, which could lead to identity theft or fraudulent credit card charges or privacy intrusion. This is accomplished by encrypting data using access control, and implementing multi-factor authentication (MFA) to ensure that only authorized personnel are able to access sensitive information like passwords or personal identification numbers (PINs).
Privacy protection, on the other hand is about the right of individuals to control the personal information that is gathered, used, transferred, and shared. Users are able to request deletion, alter their personal information, or alter the manner in which it is used. It also requires compliance with laws like GDPR and CCPA.
Despite the distinct distinction between data privacy and security, both are critical to the operations of an organization. If companies leak confidential information or compromise sensitive data, they risk losing the trust of their clients. A solid data privacy framework and practice can cut down on the number of breaches, and help companies to avoid expensive fines, penalties and lawsuits.
The first step to ensure the privacy and security of your data is to define and categorize all sensitive information an organization holds that is personally identifiable (PII) and non-PII. Conducting formal risk assessments and periodic security audits are a good way to aid in this process. Additionally, leveraging a data discovery tool to scan all systems and repositories for PII can be an effective method to gain a clear picture of the data accessible and how it’s used by employees. Data privacy and security can then be improved through a framework that is able to take into account every aspect of how an organization collects and stores, utilizes, and shares data.