Why data safety is essential

With the latest news of non-compliance with the European GDPR standards, we return to the question: why make compliance as soon as possible? The most recent non-compliance reported company, Google, is expected to pay a fine of €50 million in France, where it was recently convicted, and is being investigated in eight other EU countries for non-compliance with the same law, willing to be condemned in each of them.

Here in Brazil there’s more than a year for our LGPD to enter and force, but this is no reason to leave for the last moment. Here are the top reasons to start compliance with your organization as soon as possible:

  • Contract across borders

Organizations that act or negotiate with other countries are already adequate to each country’s individual standards, since if there is no adequacy, there is no permission to act in these countries. However, for organizations that are not appropriate to the rule, negotiations become unfeasible, resulting in significant losses.

  • Penalties

At the start of LGPD’s vigency, penalties will be applied according to the judgment and the relevance of the infraction, and may vary between: suspension of the collection / treatment / storage of data, widespread disclosure of the infraction, fine up to R$ 50 million in reais per violation. In other words, losses to the data assets, the image of the company and financial, which can cost years of debt, at best.

  • Market value
    A company that treats its data as assets and protects them in this way tends to be valued before the market. Data is no longer loose information within organizations, and is often more valuable than the equipment and furniture belonging to the company. Therefore, there are already companies registering their database in their capital and professionals dedicated only to security and protection of them.
  • Brand image
    A little beyond the financial issue comes the reputation of the brand. It is a value that can not be paid, a construction towards the market. With the dissemination of press violations as a penalty for a possible penalty, it is possible that the way the market sees your organization change, causing the image to depreciate and seek alternatives - the competition.

There are particular factors to each specific organization or sector, so if you are still wondering what value data protection can add, it is always valid to consider the answer to the following question: Would I do business with a partner that does not guarantee the security of the data? If the answer is no, consider why not and analyze your organization internally, and with that there may be points of improvement that can be leveraged.

 

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