Sensitive information or data is typically that form of data that is confidential and couldn’t be afforded to let out of an organization or firm.
It refers to such a kind of data, that if released to outside parties is likely to have an adverse effect or significant economic implications.
Sensitive information is such kind of data that needs to be protected from being accessed by any of the unauthorized parties.
This system is implemented so that the security and privacy of an individual or an organization aren’t breached.
Sensitive information is present in every kind of organization, big or small. It might include the business methods, blueprints, strategies for the future or financial plans for the company.
And if the same falls in the wrong hands, a potential working strategy for a business might fall apart and it might result in a huge loss.
Types of sensitive information
Sensitive information comprises information of different kinds.?
Talking about its types, there are three main categories of sensitive information and they are:
Personal information is just as it sounds – the data that could be linked to an individual. If this data is released, it could harm the person and could pose a major security risk.
Personal information usually includes medical records, addresses, bank information, DL number, personal numbers, etc.
If information of such nature is stolen, it could result in identity theft or the same could result in a lot of loss for the person.
Business information refers to all such kinds of data that is going to cause damage to a company in case it is accessed by a competitor or by any third party.
Business information could include the financial records, trade secrets, business blueprints or other sensitive information made for business plans.
And just like we said, every kind of organization, big or small, has sensitive information that they don’t want to let fall in the wrong hands.?
If it falls in the wrong hands, a business might fall apart and it might result in a huge loss.
Classified information is any such kind of information that a government body is restricting due to the security concerns.
It includes the documents that are classified as secret, restricted or confidential and could be considered as a breach of confidential information.
A lot of layers of sensitivity exists either with labels like Restricted, Secret, Top Secret and Confidential.
Over a period of time, the same information is slowly declassified and made public as the risk of harm passes with time.
Classified information could contain bank account information, credit or debit card numbers, social security numbers.
Protection of Sensitive data
When talking about sensitive data, there’s a lot to it than just keeping it safe.
There are specific guidelines and regulations for protecting this information for businesses and individuals.
Here are some of the important ones:
Health Insurance Portability and Accountability Act (HIPAA): The health providers of the US need to take proper steps to protect the PHI of the patients.
Gramm Leach Bliley Act (GLBA): The financial institutions belonging to the US need to disclose how they are sharing the information of the customers.
Family Educational Rights and Privacy Act (FERPA): Educational institutions need to have the consideration of the students over 18 years to release the records like disciplinary information, schedules etc.
General Data Protection Regulation (GDPR): Different kinds of businesses that process data belonging to EU citizens need to protect the same data and notify the parties in case a privacy breach occurs.
Payment Card Industry Data Security Standard (PCI DSS): A lot of companies that are renowned in processing the credit card information are needed to protect this data and conduct the transactions with a very secure, encrypted network.
Because of the enormous volume of data that are generated and processed now, it’s very imperative that the organizations handle the security and privacy of people and organizations carefully.
It’s true that issues are bound to persist. Along with the diversity of data sources and the streaming nature of data acquisition, data protection is likely to complicate.
This brings in the guidelines and regulations put forward to safeguard individuals and businesses.?