by Abacus Group, on Jan 27, 2021
This year’s initiative emphasizes cultivating trust among consumers by adopting data privacy frameworks and promoting transparency around data collection practices.
NEW YORK, January 27, 2021 - Abacus Group, a global provider of IT services for alternative investment firms, today announced its commitment to Data Privacy Day by registering as a Champion for the campaign. As a Champion, Abacus recognizes and supports the principle that all organizations share the responsibility of being conscientious stewards of personal information. Data Privacy Day is observed annually on January 28.
Data Privacy Day is a global effort that generates awareness about the importance of privacy, highlights easy ways to protect personal information and reminds organizations that privacy is good for business. Data Privacy Day began in the United States and Canada in January 2008 as an extension of the Data Protection Day celebration in Europe. Data Protection Day commemorates the Jan. 28, 1981, signing of Convention 108, the first legally binding international treaty dealing with privacy and data protection.
In partnership with the National Cyber Security Alliance (NCSA), Abacus Group has registered as an official Data Privacy Day Champion, showing our support and dedication for respecting privacy, safeguarding data and enabling trust. In 2021, NCSA is encouraging individuals to “Own Your Privacy” by learning more about how to protect your valuable data online, and encouraging businesses to “Respect Privacy,” which advocates for holding organizations responsible for keeping individuals’ personal information safe from unauthorized access and ensuring fair, relevant and legitimate data collection and processing. As part of our role as a Champion, we want to share some important tips and advice for data privacy and protection provided by the NCSA.
Advice for Individuals: Own Your Privacy
Individuals feel an increasing lack of control over their personal data. However, there are steps you can take to learn about the types of data you’re generating online, and how it’s collected, shared and used.
- Personal info is like money: Value it. Protect it. Personal information, such as your purchase history, IP address, or location, has tremendous value to businesses – just like money. Make informed decisions about whether or not to share your data with certain businesses by considering the amount of personal information they are asking for and weighing it against the benefits you may receive in return.
- Keep tabs on your apps. Many apps ask for access to personal information, such as your geographic location, contacts list and photo album, before you can use their services. Be thoughtful about who gets that information, and wary of apps that require access to information that is not required or relevant for the services they are offering. Delete unused apps on your internet-connect devices and keep others secure by performing updates.
- Manage your privacy settings. Check the privacy and security settings on web services and apps and set them to your comfort level for information sharing. Each device, application or browser you use will have different features to limit how and with whom you share information. Get started with NCSA’s Manage Your Privacy Settings page.
Advice for Businesses: Respect Privacy
According to a Pew Research Center study, 79% of U.S. adults report being concerned about the way their data is being used by companies. Respecting consumers’ privacy is a smart strategy for inspiring trust and enhancing reputation and growth in your business.
- If you collect it, protect it. Data breaches can not only lead to great financial loss, but a loss in reputation and customer trust. Follow reasonable security measures to keep individuals’ personal information safe from inappropriate and unauthorized access. Make sure the personal data you collect is processed in a fair manner and only collected for relevant and legitimate purposes.
- Consider adopting a privacy framework. Build privacy into your business by researching and adopting a privacy framework to help you manage risk and create a culture of privacy in your organization. Get started by checking out the following frameworks:
- Conduct an assessment of your data collection practices. Understand which privacy laws and regulations apply to your business. Educate your employees of their and your organization’s obligations to protecting personal information.
- Transparency builds trust. Be open and honest about how you collect, use and share consumers’ personal information. Think about how the consumer may expect their data to be used and design settings to protect their information by default. Communicate clearly and concisely to the public what privacy means to your organization and the steps you take to achieve and maintain privacy.
- Maintain oversight of partners and vendors. If someone provides services on your behalf, you are also responsible for how they collect and use your consumers’ personal information.
For more information about Data Privacy Day 2021 and tips for being #PrivacyAware, read Abacus Group's blog posts on 5 Ways to Help Employees Be #PrivacyAware and Data Privacy by the Numbers, and visit https://staysafeonline.org/data-privacy-day/.
About Abacus Group
Abacus Group, LLC is a leading provider of hosted IT solutions and service focused on helping alternative investment firms by providing an enterprise technology platform specifically designed for the unique needs of the financial services industry. The innovative and award-winning Abacus Cloud platform allows investment managers to source all technology needs as a service, offering the capacity to scale on demand to meet current and future cybersecurity, storage and compliance requirements. The company has offices in New York, NY; San Francisco, CA; Boston, MA; Dallas, TX; Greenwich, CT; Los Angeles, CA; Charlotte, NC; and London, England. For more information, visit www.abacusgroupllc.com.
About Data Privacy Day
Data Privacy Day began in the United States and Canada in January 2008 as an extension of the Data Protection Day celebration in Europe. Data Protection Day commemorates the Jan. 28, 1981, signing of Convention 108, the first legally binding international treaty dealing with privacy and data protection. NCSA, the nation's leading nonprofit, public-private partnership promoting cybersecurity and privacy education and awareness, leads the effort in North America each year. For more information, visit https://staysafeonline.org/data-privacy-day/.
About the National Cyber Security Alliance
NCSA is the Nation’s leading nonprofit, public-private partnership promoting cybersecurity and privacy education and awareness. NCSA works with a broad array of stakeholders in government, industry and civil society. NCSA’s primary partners are the Department of Homeland Security’s Cybersecurity and Infrastructure Security Agency (CISA) and NCSA’s Board of Directors, which includes representatives from ADP; AIG; American Express; Bank of America; Cofense; Comcast Corporation; Eli Lilly and Company; ESET North America; Facebook; Intel Corporation; Lenovo; LogMeIn; Marriott International; Mastercard; MediaPro; Microsoft Corporation; Mimecast; KnowBe4; NortonLifeLock; Proofpoint; Raytheon; Trend Micro, Inc.; Uber: U.S. Bank; Visa and Wells Fargo. NCSA’s core efforts include Cybersecurity Awareness Month (October); Data Privacy Day (Jan. 28); STOP. THINK. CONNECT.™, the global online safety awareness and education campaign co-founded by NCSA and the Anti-Phishing Working Group with federal government leadership from the Department of Homeland Security; and CyberSecure My Business™, which offers webinars, web resources and workshops to help businesses be resistant to and resilient from cyberattacks. For more information on NCSA, please visit https://staysafeonline.org.
