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Privacy breaches are your business Marie Shroff
People are concerned about how their personal information is used • 93% of New Zealanders think that it’s important for businesses to respect and protect their personal information. • 53% of New Zealanders are concerned about unauthorised access to or misuse of their personal information.
Privacy breaches happen daily 54,000 Cardholders' Financial Records At Risk US veterans’ data exposed after burglary Contractor Mishandles Private Data on 580,000 Military Personnel Pfizer waited six weeks to disclose data breach First Response suffers data breach Disney Warns of Data Leak Bank Cancels 1,400 Credit Cards Following Security Breach Potential Breach Leaves Donors Vulnerable Breach, undetected since '05, exposes customers Certegy’s ID breach lost 8.5 million names Data breach affects bank customers
Consequences of privacy breaches • Exposes customers to identity theft, or endangers their person or property • May humiliate, distress or damage the reputation of customers • Damages your brand and reputation • Affects consumer confidence in your business
Other jurisdictions • United States: 34 states have mandatory privacy breach notifications • Canada: Recently introduced privacy breach guidance • United Kingdom: House of Lords recommended mandating privacy breach notification • Australia: Senate Bill requiring privacy breach notification in its second reading
Privacy breach management • OPC is releasing draft guidance material • It’s more than just notification • Consider what information you collect, store, and retain • Prevention is the best form of action
Privacy breach management CONTD. • Guidance recommends a risk-analysis approach to privacy breaches • Notification will depend on the outcome of that risk analysis • We want your feedback
Benefits of Good Personal Information Management • Protect your customers, your brand, and your reputation • Remember - it costs 10 times more to get a new customer than to retain an existing one