In this article we will see Demand For Data Leading To Breaches the need for PDF DRM.
Almost every organization acquires and owns confidential information. In many organizations, data collection fuels the market and the need to get more information such as social media platforms that need confidential information to achieve their business objectives. Other businesses using confidential information include media houses, data analytics companies, advertising marketing, and sales forms, technical services, and data brokers. The information from your company could land in their hands, either legally or as a result of data laundering and fraud. Knowing how confidential information is used, and why it is priceless, can help you to assess the hazards of saving it, processing, and transmitting your data.
Some of the key players in the information market, as mentioned above, regularly require and demand data, that influences the dangers of a data breach.
There could be strong incentives to initiate a data attack at a media outlet. It has been seen and proven that people will pay handsomely to obtain sensitive data, even when those supplying it are doing it illegally. For instance, in 2008, an administrative specialist at UCLA Medical Center was caught selling medical data regarding high net worth and high-profile patients to a tabloid. According to prosecutors, the tabloid paid the perpetrator around $4500 for this information. The tabloid was caught when one of the high-profile clients set up a sting operation that revealed the hospital employee’s involvement.
There are many such instances where media outlets pay insiders to divulge information in the lure of money. If advertising estimates are analyzed from such media outlets, it reveals that there is a revenue stream that could be more than $3 billion every year. Most tabloids or media outlets that receive inside information to fuel their business is because of an entire industry supporting them that produce information regarding high-profile individuals and other newsworthy people. In return for quick cash, sensitive data gets supplied to such media outlets through illegal means. Enticed by the promise of easy money, low-wages or disgruntled employees of companies associated with high-profile clients could be tempted to steal information and sell it. Besides, another industry consisting of intermediary data brokers is further making it trickier for law enforcement agencies to understand how a data breach has taken place, leave alone prosecute the perpetrators.
There is enormous value in personal data that marketing agencies are always on the lookout for. From retailing companies, entertainment agencies, health care organizations, or any other industries, data brokers help in compiling a list of valuable information and sell these to companies that are into direct marketing.
Here is how it works:
- Retailers look to offer their services to customers with specific needs.
- Healthcare providers require data lists to reach out to potential patients to target their advertising based on the specialties offered at their healthcare center.
- Large pharma companies have tremendous incentive to reach out to people suffering from specific illnesses that their services or products can address.
- Lawyers look to send out notifications to individuals with specific issues related to their case, primarily if these lawyers are engaged in class action lawsuits.
- Media providers look to position advertisements for movies or series that appeal to viewers with individual interests.
The Growing Concern Regarding Health Data
A peek into understanding health data will reveal that large data brokers generate colossally comprehensive files on consumers and sell these consumer profile databases to specific industries. Besides, data analytics firms also employ data models to forecast a patient’s ailments or health-related issues depending on the particular consumer profile information. All around us, digital advertising and analytics use confidential consumer data to enlarge and enhance consumer profiling.
And hence, it is evident that big data is a comprehensive industry that is only going to develop rapidly. For instance, almost every company in the healthcare sector has an urge to leverage information from all aspects of people’s lives to make efficient and effective diagnoses and serve their patients accurately. Big data analytics is also instrumental in creating various opportunities through the number of advances in medical research and development such as predicting cost therapies, health management and clinical operations, to name a few. Similarly, several companies, such as entertainment vendors, retailers and advertising firms, can also gain numerous benefits by leveraging health information and derived products.
According to McKinsey, big data analytics could enable more than $300 billion in savings every year for the healthcare industry in the US alone. The expanding marketplace for data shows how valuable personal credentials are and how it can create new incentives to sell, trade, process, and hold information. In light of all this information, the emphasis on safeguarding personal information is more critical than ever. Many confidential forms are stored in PDF format and these can be adequately protected against a data breach by using PDF DRM.
Through PDF DRM (digital rights management), you can control access to your confidential information and restrict access to your data, while at the same time permitting it to be disseminated securely. Implementing PDF DRM technology in your organization can make it effortless for you to control document access and use, ensuring confidential information is only accessed by authorized parties and that it is not unknowingly printed, copied, or shared with unauthorized users. This significantly cuts down the risk of a data breach occurring.