Today, many economists believe the world’s most valuable resource is no longer oil, but data.

Whether this can be quantified or not, the importance of data privacy to customers cannot be denied. In fact, 70 percent of Australians now view the protection of their personal information to be a major concern in their lives.

Clearly, businesses that ignore the value of privacy compliance to their enterprises do so at their own peril. Because it is fast becoming their most valuable asset, companies must safeguard their valuable customer data and protect it at all costs.

In our experience, one of the biggest mistakes businesses make is to assume that their customer data is safe because they have robust cyber-security, or a diligent legal department.

While these are very important pieces in the data protection solution, every single department across your business has a role to play in ensuring that your customer data is safeguarded. With over a third of Australian data breaches being caused by human error, fostering an organisational culture that respects privacy, across all functions of your business, has never been more important.