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The Importance of Safeguarding Consumer Data by Becoming a 2021 Data Privacy Day Champion

This year’s initiative emphasizes cultivating trust among consumers by adopting data privacy frameworks and promoting transparency around data collection practices.

[Laurel, Md.]Tower Federal Credit Union today announced its commitment to Data Privacy Day by registering as a Champion for the campaign. As a Champion, Tower recognizes and supports the principle that all organizations share the responsibility of being conscientious stewards of personal information.

Data Privacy Day is a global effort—taking place annually on January 28th—that generates awareness about the importance of privacy, highlights easy ways to protect personal information and reminds organizations that privacy is good for business.

This year, the initiative is encouraging individuals to “Own Your Privacy” by learning more about how to protect the valuable data that is online. Similarly, businesses are encouraged to “Respect Privacy,” which advocates for holding organizations responsible for keeping personal information safe from unauthorized access and ensuring fair, relevant and legitimate data collection and processing.

“Tower is once again proud to support this global initiative as a Data Privacy Day Champion,” says Phil Mellinger, Tower’s Vice President of Information Security. “Keeping our members’ personal and financial information safe, remaining transparent and accountable, and earning/keeping our members’ trust has always been a top priority for Tower. We know how important safeguarding private data is in the fight against identity theft and fraud. We continually seek to educate our members, other credit unions and the community about cybersecurity, and to help raise awareness about how we all play a role in shielding and protecting our sensitive information online.”

According to a Pew Research Center study, 79% of U.S. adults report being concerned about the way their data is being used by companies. As technology evolves and the pandemic continues to influence how consumers interact with businesses online, data collection practices are becoming increasingly unavoidable, making it imperative that companies act responsibly.

“In recent years, we’ve seen the impact of more global awareness surrounding the abuse of consumer data, thanks to sweeping privacy measures like GDPR and CPRA,” said Kelvin Coleman, Executive Director, National Cyber Security Alliance (NCSA). “And while legislative backing is key to reinforcing accountability for poor data privacy practices, one major goal of Data Privacy Day is to build awareness among businesses about the benefits of an ethical approach to data privacy measures separate from legal boundaries.”

For more information about Data Privacy Day 2021 and how to get involved, visit https://staysafeonline.org/data-privacy-day/. For cybersecurity education articles and tips, visit Financial Know-How.