Data protection, cybersecurity and privacy – these are the defining talking points of our age. They also represent the three biggest challenges to business in the 21st century.
Each morning news cycle brings more stories of security threats, hacks and high-profile data breaches, not to mention landmark fines for firms who fail to comply with legislation. All further reminders of the importance of ensuring your company's data is handled in a proper, secure manner.
Also of chief concern are the less tangible but equally devastating costs; the potential loss of customers, the damage to your company's reputation, not to mention the personal cost to each affected person and their individual rights.
Data Protection – By The Numbers...
According to one recent survey1 of British consumers, 52% of those surveyed said they worry that companies are not protecting their personal information properly and 58% were fearful that a company might share or sell their personal data. A total of 43%, meanwhile, felt that those who were in breach ought to pay bigger fines.
In a similar global survey2 across 14 countries, 62% of respondents claimed they would stop buying from a company which failed to protect their private data, while a staggering 81% would also advise friends and family to do likewise.
Yet breaches are on the rise and growing exponentially; in the US alone, the rate has almost doubled3 between 2017 and 2018. Meanwhile, the cost of cybercrime to the global economy is expected4 to exceed $6 Trillion in 2021 – that's almost as much as the total GDP of the UK and Germany combined.
Is your organisation properly prepared?
Do not make the mistake, as many businesses have done to their detriment, of thinking that Data Protection is exclusively an IT-related issue. Data Protection is, in practice, a far broader concern that impacts each area of your business equally.
Besides the various cybersecurity pitfalls, there are a myriad cultural, structural and procedural, not to mention legal, issues to be considered. In fact, data protection is so all-encompassing that managing it can often seem daunting, but help is at hand.
We can assist your organisation with a wide range of data protection services, including:
- Data protection consultancy and performance management, identifying areas for improvement and providing recommendations
- Overseeing internal audits and providing advice and assistance to guarantee compliance with all relevant data protection requirements and legislation, effecting changes where necessary
- Staff training in data processing, providing company-wide education on data protection best practices and compliance requirements, awareness programmes and internal communications
- Liaising with your DPO, senior management and board of directors on data protection matters
- Monitoring procedures and identifying areas of risk and advising on areas to mitigate harm, conducting "worst-case scenario" drills on how to respond to critical incidents including data breaches to ensure better controls and procedures are in place
- Assisting with the drafting of key data protection communications including company-wide privacy policies, website privacy policies, cookie policies, etc.
- Ensuring all other external communications pertaining to personal data, individual rights and other data protection matters are clear, transparent and fully compliant with all relevant legislation
- Ensuring all data processing activities are properly recorded and catalogued and that there is a strong legal basis for collecting said data
- Safeguarding individual rights pertaining to privacy and access to information, ensuring they are properly upheld and fully compliant while also ensuring the public are fully aware of the precautions taken and procedures that are in place
- Managing data access and/or deletion requests – e.g. GDPR's "Right to be forgotten" clause.
- Providing advice regarding third party data processors, including the drafting of contracts and agreements, general legal advice
Data Protection Lawyers – Gibraltar
As Gibraltar's largest law firm, assisting some of the world's most prominent brands for decades, you can rely on Hassans' team of data protection lawyers to advise on a broad range of data protection and privacy issues, including helping to ensure your organisation is fully compliant with GDPR and related legislation.
There Can Be No Confidence Without Confidentiality
All transactions are based on trust. Yet, in this interconnected world of ours, that trust can seem increasingly hard to come by. Your organisation's future success, therefore, depends on its ability to develop and maintain that trust in this new digital landscape.
A solid commitment to proper data protection, coupled with an easy-to-understand set of privacy policies, goes a long way to establishing that trust. It also means peace of mind for you, your staff and your customers, knowing that your organisation is fully compliant with data protection legislation and proactive in its enforcement.
Achieving this is easier said than done, of course. It requires changes to processes and internal culture, as well as dedicated staff training and all while and ensuring that your day-to-day business continues to operate smoothly and seamlessly.
At Hassans we understand and appreciate this. Our job is to help make this process simple and painless. As Gibraltar's leading law firm, a trusted name 80 years, we work hand-in-hand with some of the world's biggest brands advising on data protection matters.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.