1. Data Privacy :
Data Privacy refers to the proper handling of data means how a organization or user is determining whether or what data to be shared with third parties. Data privacy is important as it keeps some data secret from others/third parties. So we can say data privacy is all about authorized access. It is also called as Information privacy.
In Bank, A lot of customers have their account for monetary transactions. So the bank needs to keeps customers data private, so that customers identity stays safe and protected as much as possible by minimizing any external risks and also it helps in maintaining the reputation standard of banks.
2. Data Protection :
Data Protection refers to the process of keeping safe to important information. In simple it refers protecting data against unauthorized access which leads to no corruption, no compromise, no loss and no security issues of data. Data protection is allowed to all forms of data whether it is personal or data or organizational data.
A bank has lot of customers, so the bank needs to protect all types of data including self bank records as well as customer information from unauthorized accesses to keep everything safe and to ensure everything is under the control of bank administration.
The terms Data Privacy and Data Security are used interchangeably and seems to be same. But actually they are not same. In reality they can have different meanings depending upon its actual process and use. But it is sure they are very closely interconnected and one complements the other during the entire process. So, now let’s know how Data Privacy is different from Data Protection from the below table.
Difference between Data Privacy and Data Protection :
|S.No.||Data Privacy||Data Protection|
|01.||Data Privacy refers maintaining secrecy or keeping control on data access.||Data Protection is the process of protecting data from external risks such corruption, loss etc.|
|02.||It is all about authorized access means it defines who has authorized access to data.||It is all about unauthorized access means if anyone has not access to data then it keeps the data safe from that unauthorized access.|
|03.||Data Privacy is a legal process/situation which helps in establishing standards and norms about accessibility.||Data Protection is a technical control system which keeps data protected from technical issues.|
|04.||Data Privacy is the regulations or policies.||Data protection is the procedures and mechanism.|
|05.||It can be said as a security from sales means holding the data from shared and sold.||It can be said as s security from hacks means keeping the information away from hackers.|
|06.||Data Privacy controls are mainly exits at the end user level. The users knows which data is shared with whom and which data they can access.||Data Protection is mainly controlled by the organization or company end. They tech all the required measures to protect their data from being exposed to illegal activities.|
|07.||Data privacy teams are made of experts with law making, policies and some engineering experts.||Data protection teams are made of experts from technical background, security background etc.|