As of 1998, the Data Protection Act came into effect in the UK to regulate and protect millions of customers’ data, and in 2018 a revision was made. Because of the Data Protection Act, the data is only used in expressly stated ways, kept safe and secure, and not stored for longer than needed. The government will fine (£500,000) any company that fails to abide by this law.
And data protection is vital in this modern world since data protection prevents your client’s information from being abused by third parties for fraud and identity theft. Today we will see the benefits of data protection as a business owner.
1. Customers Information is Secure
For your client to know their information is secure, you need to register your business with the ICO. Once you register, the ICO will assign a registration number. You can then publicize it on your site to let people know that you’re using data protection.
Having this registration number will make potential clients share their personal information without being afraid that hackers will breach their data. Of course, suppose your clients want further data protection. In that case, they should look for more personal protection that socialprotect.uk offers.
2. Avoid Hefty Fines
As mentioned before, failure to abide by the Data Protection Act will follow serious consequences. Authorities will prosecute you and your business if you violate the Data Protection Act. These can involve fines of anything up to £500,000 or even a prison sentence.
Clearly, adhering to data protection procedures is crucial as the effects of failing to follow them can be disastrous for you and your business. These are the eight data protection principles you must follow when handling data protection.
- Only used in explicitly stated ways
- Not stored for longer than required
- Used only in appropriate ways
- Kept secure and protected
- Used only in the confines of the law
- Not carried out of the European Economic Area
- Stored following people’s data protection preferences
Follow these eight principles rigorously to avoid any unnecessary fines or prosecution!
3. Learn Better Business Management
As a data controller, you will need to abide by the data protection principles and adequately maintain the data you gather within the law. This means you’ll need special data management software and a particular data input method.
Some outsourcing companies help directly in data protection management. But with a little training, you or an employee can manage the data safely and securely. One of the best benefits of data protection, without a doubt!
Data Protection is Essential
With the number of frauds and identity theft happening worldwide, data protection is crucial to keep information safe. So don’t hesitate to comply with the Data Protection Law and register your business with ICO. Without a doubt, it will benefit you, your business, and the data of your clients.
If you found this article informative, then check out our other business-related posts. We are sure you will enjoy them and find them as informative as this one.