Navigating Privacy, Security & Compliance
in Higher Education to Protect Against Fraud
What You'll Learn
THE COMPLEX NATURE OF PRIVACY, SECURITY & COMPLIANCE
Privacy, security, and compliance are complementary, but the relationship is complex and variable by situation. Sometimes they conflict and compete, other times they converge and cooperate.
THE FRAUD RISKS OF NOT ADDRESSING PRIVACY, SECURITY & COMPLIANCE
The cost of security breaches, privacy law violations, and regulatory non-compliance is significant. Not addressing these concerns also exposes your institution to fraud and other malicious acts.
BEST PRACTICES FOR PRIVACY, SECURITY & COMPLIANCE ON CAMPUS
Knowing how to properly manage privacy, security, and compliance builds a foundation for combating risks while serving students and fulfilling an institution’s mission.
DEFINING PRIVACY, SECURITY & COMPLIANCE
Privacy is the right to control access to and uses of physical items, such as bodies and property, and information, such as medical, financial, and other significant facts about a person.
Security is the people, policies, processes, and tools that work together to protect an item, physical or digital, from harm or theft.
Compliance is a systematic approach to governance and administration that ensures business and operations policies and processes are in accordance with standards and regulations.
WHY DATA PRIVACY, SECURITY & COMPLIANCE ARE CRITICAL
Data is the world’s most valuable resource, more than oil and precious metals, and therefore potentially an enormous liability. Bad actors are targeting any organization with large amounts of sensitive data such as governments, financial firms, and hospitals.
Addressing privacy and security concerns while achieving compliance is essential to the business and operations of higher education and not easy to accomplish in the digital era. Privacy, security, and compliance measures are the starting point for protecting data and stopping fraud.
THE RISKS OF NOT ADDRESSING PRIVACY, SECURITY & COMPLIANCE
Security is no longer just locks and keys, and maintaining privacy merely locking up paper records in a cabinet.
The cost of security breaches is staggering, as the average total cost of a data breach in 2023 was $4.45 million (USD), the highest on record. The data exposure often violates privacy, too. The reputational damage adds insult to injury, creating further indirect costs such as decreasing enrollment and increasing insurance premiums.
Higher education institutions must comply with a wide range of regulations and standards from many sources, internal and external. The cost of non-compliance is fines and possibly restrictions or disqualifications on an institution’s ability to conduct business.
Guarding Higher Ed’s Data Goldmine eBook
Fulfilling privacy, security, and compliance regulations creates a foundation for meeting the challenges and opportunities of today and tomorrow. In this eBook, learn about the risks of the digital era and best practices in privacy, security, and compliance to combat fraud, serve students, and achieve your institution’s mission.
