• Straits Interactive

Make the “culture of privacy” a priority!

Contributed by: Henry J. Schumacher, President of the European Innovation, Technology and Science Center Foundation (EITSC)

It cannot be reiterated enough: personal information is property that belongs to the consumer, which companies must handle with a certain duty of care.

That makes privacy compliance a much more complex challenge. Companies need to think more about what's best for the consumer as we handle personal data, as well as how to accommodate the consumer and the rights he or she might exercise under various privacy regulations. 

In short, businesses need to make a "culture of privacy" more of a priority, in much the same way anti-corruption activists like the Integrity Initiative and partners stressed the importance of a culture of compliance in the 2010s. A culture of privacy and security will be the watchword for the 2020s.

It forces deeper changes in business processes, policies, and corporate awareness of privacy - and any time we talk about changes in policy, procedure, and corporate culture, the compliance function is crucial to that. 

Now let's get more practical.

When you translate those goals into capabilities that the company must have to get the job done, several emerge as the most important.

...continue reading

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