With all this talk of primary data, companies reading your personal info from your phone or computer, and facial recognition technology, you have to wonder if companies are keeping your data safe. So, are they?
No, not really. Like not even a little.
In 2023 alone, there were an estimated 3,205 breaches of personal and consumer data, with a total of 353 million victims worldwide. The biggest? T-Mobile lost data on 37 million users in one hit. The greatest irony of all is that 2023 was the 20th anniversary of the first data breach law being passed.
Companies these days ask for so much trust. Samsung knows my face, Amazon knows my payment info, Google knows where I am at all times, and everyone’s phone is secretly listening to our private conversations. While this figure is for 2021, not more recent, Statista puts the percentage of companies asking for personal data and storing it (presumably unsecured), at 73%. I don’t want to sound all doom and gloom about it, but in this blogger’s opinion the situation is practically hopeless. At least from the consumer’s point of view.
Part of the reason your data is out there in such a big way is that there’s been somewhat of an information arms race in the public sector. We’ve been learning in marketing classes how great it is for companies to track our internet activity to better advertise to us, for example. I think professor Toplansky said that to me, just last year. It seems as though most experts brush off the issues of data security these days. It’s not that it’s ignored or accepted, but it just feels like the issue could be treated with more gravity. In the famous words of Jeff Goldblum, “Your scientists were so preoccupied with whether or not they could, they didn’t stop to think if they should.” Just like we shouldn’t revive the dinosaurs, maybe this data collection trend is growing faster than we can handle?
While there are legal and financial consequences associated with each data breach, it still keeps happening. Regulations like the UN’s GDPR set high standards for data collection, storage, and user consent. However, these regulations often only apply within specific jurisdictions. Companies operating internationally can exploit this disparity, collecting and using data with minimal restrictions in regions with weak privacy laws. This creates a situation where an individual’s privacy rights can be violated without protection measures depending on where they live. In theory it applies for all businesses operating outside the EU, but in reality it can be difficult to enforce and loopholes do exist.
That’s all rather grim. Asking me, a lowly blogger, what’s the solution?
I have no idea.
Maybe stricter laws should be enacted to protect consumers, and sharper repercussions can befall companies who have been negligent. Maybe the US Federal Government could really bring the hammer down and make examples of any cyber-criminals they catch, setting them loose in the gladiator pits to fight for our amusement. To discourage further crime, of course. Not for my amusement or anything.
Blood sports aside, what would you suggest to lawmakers or companies to tackle the growing issue of data insecurity? Let me know in the comments below. Leave a like, subscribe and hit the bell icon. Really helps the channel grow. Until next time!
Citations:
- https://www.statista.com/statistics/1172965/firms-collecting-personal-data/
- https://www.veritas.com/information-center/data-privacy
- https://www.linkedin.com/pulse/consequences-failing-protect-personal-data-legal
- https://www.governing.com/management-and-administration/2023-will-go-down-for-record-setting-number-of-data-breaches