Businesses and consumers need to strengthen privacy protection as technology continues to evolve and data becomes increasingly prevalent in our daily lives, experts from a leading advisory firm have warned.

Grant Thornton Bahrain’s director for IT advisory Nishith Saxena told the GDN that, “From social media to online shopping, personal information is being collected and shared at an unprecedented rate, and it’s important that individuals and organisations alike take steps to ensure that this information is being used responsibly and ethically.”

Noting that while laws become stringent to safeguard personal data, Mr Saxena argued that cyberattacks are becoming an increasingly common and serious threat to personal privacy and security.

“These attacks can take many forms, from hacking into personal accounts and stealing personal and sensitive information, to spreading malware and viruses that can damage computer systems.”

The firm’s research has shown that with the rising number of cyberattacks and data breaches, more companies and organisations are turning to encryption to protect personal information and secure online transactions.

Encryption is a technique that can be used to scramble data so that it can only be read by those with the proper decryption keys.

With the advent of quantum computing, traditional encryption methods may become breakable, said Mr Saxena, adding that quantum-safe cryptography is being developed to protect data and communication channels against quantum computing attacks.

In terms of cybersecurity, a growing trend is the use of artificial intelligence (AI) and machine learning (ML) technologies.

These technologies can be used to analyse large amounts of data, identify patterns and detect anomalies that could indicate a cyberattack.

AI and ML can also be used to automate the process of identifying and responding to cyber threats, making it more efficient and effective.

“However, cyberattacks can be sophisticated and hard to prevent, it’s important to be aware of the risks and take steps to protect yourself and your personal information,” the expert said.

Highlighting the tendency on the part of companies and organisations to keep the budget for services as low as possible even as they hire external services for reassessing the security posture, Mr Saxena said such an approach can at times lead to selection of the cheapest service provider offering services at a lower cost by using cracked or pirated versions of security software and freelancers.

“Using cracked cybersecurity tools by cheap service providers can put personal and organisational security at risk, as they can be less effective, introduce new vulnerabilities and may be illegal,” he warned.

“It’s important to select service providers that use legitimate and updated tools from reputable sources and have the expertise and resources.”

The analysis comes soon after International Privacy Day was marked on Saturday as a day dedicated to raising awareness about the importance of protecting personal information and promoting privacy rights.

The Bahrain-based audit and advisory firm’s senior partner Jatin Karia said it served as a reminder that privacy is an essential human right, and it’s important for individuals and organisations to take steps to protect it.

“By being aware of the ways that personal information is being collected and used, and by taking advantage of the tools and resources available to protect privacy, we can all work towards a more secure and private online experience,” Mr Karia added.

 

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