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Cybersecurity Privacy Technology Media and Telecom

How to Avoid ‘Privacy Debt’

For many tech companies today, their products and business model require the collection and storage of data. At the same time, a failure to build adequate data protection technology, processes, and operations will continuously generate “privacy debt” for the business. The accumulation of this “privacy debt” can eventually turn away customers, attract regulatory penalties, and create an existential risk for the company.

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Data protection is one of the single most important issues facing the tech industry today, both for consumer-facing businesses as well as those catering to enterprise customers. Just last month, Facebook was hit with a new kind of data breach in which hackers misused legitimate functions on the site to scrape and collect data containing personal information from 533 million Facebook users in 106 countries. An increased variety in data breaches and security threats are becoming more commonplace, and the sophistication of breach actors has elevated. The potential for data misuse has also skyrocketed with the large volumes of data collected and stored by businesses. Cybersecurity solutions have become the darlings of entrepreneurs, venture capital firms and the public markets.

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