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Researchers wanted

The British Information Commissioner’s Office (ICO) is soliciting bids for a three-month research project aimed at putting a price tag on failures to protect privacy. The “business case for investing in proactive privacy protection” project will determine the cost of not having proper data protection safeguards in place, so organizations can “place a monetary value on information as an asset, quantify the risks of holding information, and pinpoint the financial and reputational costs should problems occur,” according to an ICO press release.

ICO Assistant Commissioner Jonathan Bamford said: “We are aware that one of the barriers to more proactive privacy protection within organizations is the absence of a soundly argued business case for expenditure. However, organizations can no longer afford to ignore data protection and CEOs need to wake up to the risks and responsibilities that come with vast data collection. Data protection needs to be taken as seriously as health and safety by those at the top of the corporate structure.”

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