“In a world of bytes and bits, your privacy is non-negotiable.” – Happiom
Data breaches are one of the worst nightmares of organizations and arguably the most common concern of business leaders. Every business and individual is at risk unless measures – both in the organizational and individual levels – are taken proactively to protect data.
In fact, in the third quarter of 2024 alone, 422.61 million data records were leaked because of data breaches; affecting millions of people all around the world.
5 Reasons Why Take Data Privacy Seriously
Countless resources have been published and shared over the years as to why Data Privacy matters. We’ve summed up these resources’ top five consequences of not taking Data Privacy seriously and added how we at Virtua Solutions are preventing them.
Risk of Data Breaches
Data breach is the catalyst for the next reasons below, so the risk of having one must be taken seriously and into account when doing business.
Companies with remote work setups, such as Virtua Solutions, must invest in secured infrastructures to safeguard data. Practical steps in data sharing should also be in place to limit the amount of data being processed and the people who have access to it.
The costs of not mitigating and preventing data breaches are too much to not take Data Privacy as a matter of serious concern.
Fines and Financial Loss
Needless to say, data breaches come at a cost – first and foremost financially.
In the Philippines alone, a violation of the Data Privacy Act of 2012 can cost, at the minimum, PHP 500,000 (or USD 9,000) up to PHP 2 million (or USD 35,000). Violations can also include jail time for individuals found guilty.
This financial loss can damage an organization’s revenue stream, not just because there are fines to be paid but also because of the next reason below.
Reputational Damage
News about data breaches spread like wildfire, and getting involved in one can take a toll on a company’s reputation.
Trust and confidence built over the years gone.
Customers and investors walk out the door.
Employee morale at an all-time low.
Word-of-mouth replaced by negative reviews.
Soon, doing business and reputation salvaging will be a difficult endeavour.
Risk of Information Misuse
Not taking Data Privacy as a concern may lead to the misuse of information. Simply put, it is the usage of any information in a way that it’s not supposed to be used.
Information misuse can lead to identity theft and fraud – both of which deal with sensitive personal information.
Operational Inefficiencies
Because companies use data to operate a huge part of their business, data breaches can result in inefficiencies and breakdown in operations.
In the case of business process outsourcing or BPO, leaked data can stop operations and cost hundreds or even thousands of jobs.
As an outsourcing offshore business, we at Virtua Solutions understand the impact of data breaches not only to ourselves as an organization, but also to our partners and clients who have entrusted us with their data.
Virtua Solutions Undergoes Data Privacy Training
In compliance with the Philippines’ Data Privacy Act of 2012, all of our team members at Virtua Solutions underwent a Data Privacy 101 Training with Atty. Stefan Del Rosario of De Castro Consulting last January 20, 2025 via Zoom Meetings.
The training covered the foundational concepts of Data Privacy such as the key players in data processing and the rights of data subjects. A distinction between personal information and sensitive personal information was also pointed out.
Atty. Del Rosario also discussed the differences between and the responsibilities of data processors and data controllers, while also equipping the team with the knowledge on responsible data management.
He also discussed the scope and overview of the Data Privacy Act of 2012, along with the fines and consequences of Data Privacy negligence, introduction of the National Privacy Commission (NPC), and the responsibilities of our assigned Data Protection Officer (DPO) – Mr. Kenneth Dimaculangan, who is also our IT Specialist/Manager.
Virtua Solutions’ Strengthened Commitment to Data Privacy
Even in our remote work setup where all data is stored digitally through secure cloud infrastructure, our processes have undergone a Privacy Impact Assessment (PIA).
As a result of this PIA, we are taking steps to further improve the safeguarding of our community’s – employees’, candidates’, and clients’ – data.
Our strengthened commitment to protecting data continues to be one of our priorities in ensuring that we deliver the best outsourcing solutions to our clients and build the confidence of future ones in outsourcing to the Philippines.
In today’s world, data is power.
To mimic the line from Marvel, “With great power comes great responsibility.”
Much like how data is within our hands, so is the responsibility of keeping it safe.