Weak security and privacy regulations can create new vulnerabilities around information in the digital world, various media publications reported, citing cybersecurity solutions provider Symantec.
"If poorly conceived, security and privacy regulations could create new vulnerabilities even as they close others," The Economic Times quoted the Symantec report as stating.
In its 2019 predictions report on cybersecurity, Symantec said security and privacy needs will be addressed by increased legislative and regulatory measures. According to the report, some requirements will prove more counterproductive than helpful.
“There are certain aspects that need to be taken care of when these regulations are framed and implemented,” said Gaurav Agarwal, Symantec’s managing director for India and the SAARC region
The report also highlighted that the implementation of the General Data Protection Regulation (GDPR) by the European Union earlier this year will prove to be a precursor to various security and privacy initiatives in other regions.
While India is still in the process of finalising its own data protection norms, countries like Canada and Brazil have already passed their rules, added the report.
According to Agarwal, making people aware of the changes in data protection and the likely impact they will have on citizens’ lives is an important priority.
“The banking system has done a commendable job in making people aware that they shouldn't be sharing one-time passwords for transactions. When new regulations are being put in place, scamsters could use fear to trick consumers into sharing private information, and this can be countered only by educating the public," Agarwal added.