New research shows that voluntary disclosures about cybersecurity risk can help mitigate the “contagion effect” that often impacts companies in an industry that has just been the victim of a major cyber breach.
Companies that want to thrive in an increasingly regulated privacy environment must focus more on data transparency for customer loyalty, which consumers have now come to not only value, but expect.
To meet the ever-increasing challenge of cybercrime and rebuild user trust, tech companies will need to be built with a new standard that embraces a transparent and open source approach.
The €50 million fine against Google is a sign that GDPR grade transparency is here to stay. Legalistic privacy policies will always be with us of course, but the privacy world is currently primed to embrace a new “layered notice” paradigm for delivering privacy information to users on their terms.
By putting TraceTogether’s data terms in context and increasing their transparency with citizens, the government has an opportunity to win back citizens’ trust and even become an exporter of data privacy best practices.
The DuckDuckGo disclosure is an opportunity to reflect, for individuals and companies alike. As an individual, who defines what privacy means to you? As an organization, is your internal definition of "user privacy" consistent with what your users expect?