How are you handling privacy risks in your business?
Even as a small to medium business, if you are handling personal information of your clients, customers, employees, or any other stakeholder, you should have processes in place to ensure compliance with privacy laws and regulations, mitigate potential harms, and safeguard personal information.
The most effective policy you can have in place for your business is to prepare a privacy policy for your processes of handling, storing and protecting personal information. This can then be published on your website to show and be transparent with your customers regarding how their information will be handled.
Other key legal risk management techniques you can implement, or engage your trusted corporate lawyer to implement, to handle privacy risks include:
- Conducting privacy impact assessments to identify privacy risks in any new systems, projects, and processes.
- Internal training and awareness on policies and procedures, but also on the potential risks and consequences of breaches to your business.
- Update or implement data breach response plans and limiting the personal information data you actually maintain within your business.
- Upgrade your security and access controls for your business and your IT systems. For example, multifactor authentication.
- Legal compliance and monitoring. Stay informed of changes in privacy laws and regulations, and ensure your policies and practices are up to date and compliant based on your business and industry.
Effective legal risk management techniques will ensure you are handling personal information carefully, mitigate your business’ risk of privacy breaches, and ensure that everyone internally knows exactly what to do when a breach or a potential breach occurs.
Contact Rankin Business Lawyers for practical, on-point commercial legal guidance.
Stacey Brennan
Lawyer
