January 28th is Data Privacy Day, an annual effort to raise awareness of privacy and data protection issues among both consumers and businesses.
Prakash Panjwani, Senior VP and General Manager of Data Protection Solutions at SafeNet, offers this insight:
“According to new data from the Online Trust Alliance, at least 740 million data records were exposed in 2013, making it the worst year in history for reported breaches. In fact, four of the top 10 breaches of all time occurred last year. And in just the past couple of days, breaches of credit card and personal data at retailers like Michaels and Coca-Cola have demonstrated that 2014 will be no better. Whether it be high-profile or high-volume, attacks against Target, Neiman Marcus or Adobe, this constant stream of new breaches has made it obvious to everyone that we’ve reached an unprecedented level of crisis when it comes to data security and that there is a new mindset needed. As we reflect on the state of the industry on January 28 – otherwise known as Data Privacy Day – we should be thinking about how to enable a secure breach environment. Of course we want to prevent breaches in the first place, but today’s reality necessitates a shift in thinking so that organizations are not relying solely on breach prevention approaches, but are prepared that a breach will happen. This type of preparation leads to the employment of tactics and technologies, like encryption, to mitigate the impact of a breach. If the value that cybercriminals derive from stolen data is removed, their motivation to break in will disappear. That’s the only way we avert the crisis and reverse the trend.”