The Importance of Data Privacy Day

About Data Privacy Day

Did you know that it’s only been 14 years since the U.S. started officially observing Data Privacy Day? This day was originally launched by the Council of Europe in 2007 and was publicized as Data Protection Day, shortly after the U.S. and Canada adopted the important initiative. Now this event is celebrated all over the world annually on January 28. The main purpose of this international effort is to raise awareness about online data privacy and to enlighten people on the appropriate privacy principles and practices. Unfortunately, many people are unaware of who has access to their personal data and need help securing their precious information. Taking the time to learn safe privacy practices can ensure that your sensitive data stays in the right hands.

Data privacy practices

Keeping your personal information private and protected has a lot to do with your online routine. Any time you download an application, purchase something with your bank card online, or use a public Wi-Fi network, you’re unconsciously putting your personal data at risk. Before you install that new app, read the fine print and understand what you’re potentially agreeing to. The majority of apps ask for access to your camera, contacts, and location, and every single app has a privacy policy that explains how your data will be used and possibly shared. If you’ve already installed an app without reviewing its privacy policy, you can still take measurements to protect your data. Simply go to your settings and check thoroughly through the permissions you’ve given said app. You can then limit privacy permissions or delete the app entirely. Always remember that you’re in charge of your personal data and that it’s ultimately up to you to secure it.

Another way to protect your personal data is by avoiding suspicious links and emails. Clicking on a strange link can often lead to a data breach. A recent study done by the University of Maryland confirmed that more than 156 million phishing attacks happen on a daily basis. These phishing emails and texts are dangerous because they look authentic yet have the power to steal your information or even worse, your identity. Keep in mind that cyber criminals use several mediums to reach their targets, whether it’s tricking them through an email, text message, or even a phone call. The next time you encounter a phishing scam, think twice before responding to it.

There are other steps you can take to make sure your personal data is protected. Installing security software or a password manager can help keep your data safe and secure. Reviewing your privacy settings on your social media accounts and setting up unrecognized login alerts can help you keep track of your platforms. Setting up two-factor authentication can also serve as an extra layer of protection. Lastly, limit the amount of information you share online to the public. While sharing a birthday post on social media may seem harmless, it can actually be more damaging than you think. Cyber criminals are always on the lookout for clues and could use your birthdate for malicious purposes. At the end of the day it’s safer to keep your personal information private and to be very cautious of who you’re sharing it with.

Where to find secure data

In many industries, cheaper can be better. But when it comes to financial data, you get what you pay for. The financial data industry is tightly regulated, and there are potholes left and right that can trip up founders and engineers. If you are checking out a smaller, newer data company that promises extremely low fees, the chances are high that they are sourcing this data illegally. Unless you are 100% certain of the source of data, steer clear of these providers. It cannot be stressed enough how dangerous this becomes. Many of these smaller, cheap vendors are being sued, and if they are shut down, so is your data. This can be catastrophic for fintech companies or investment platforms with clients that rely on their services. That’s why working with a legitimate provider, like Intrinio, is so critical. We act as a partner on your behalf to make sure you are getting the right data, following the rules, and getting the data flowing in the most affordable way possible. We’ve been navigating this landscape for a decade and helping our clients avoid unnecessary pitfalls and headaches. To learn more about our secure platform and data packages please visit intrinio.com.

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High-quality financial data. Tools built for developers. First-class, US-based support. Data doesn’t have to be hard or expensive.

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Intrinio

Intrinio

High-quality financial data. Tools built for developers. First-class, US-based support. Data doesn’t have to be hard or expensive.

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