Retrieving value from data has become a top priority for organizations recognizing data as an asset. However, considerations regarding the risks associated with diverse and sensitive data must also be addressed. Data protection should evolve beyond merely preventing attacks; otherwise, valuable data may turn into a liability. Blackbaud's 2020 data breach exposed sensitive information from over 10,000 entities due to inadequate security measures and violations of data protection laws, leading to a $6.67 million settlement in 2024, highlighting the need for improved data retention policies and security practices.
"In an era when data needs to be recognized as an asset in order to transform as a business, retrieving value from data becomes the topmost priority."
"The perception about data protection has to change. Now that data is no longer seen as a by-product of business, the description of protection also needs to extend beyond..."
"Consider the case of Blackbaud, which faced a data breach in July 2020, exposing personal data of more than 10,000 organizations and individuals."
"In June 2024, Blackbaud was ordered to pay $6.67 million as a settlement due to their violation of data protection principles and lack of security protocols."
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