THE

BUSINESS
STANDARD
The lssue of data
protection slts at the centre of today's most pressing
challenges for the Bangladesh government. How
tackle the Issue of data prepared Is Bangladesh to
protection?
Tasnuva 8helley
23February. 2023, 00 am
11
Last modified
23 February, 2023, 11:06 am

Barrister Tasnuva Shelley. Ilustration: THS

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Is Smart Bangladesh ready to confront data risk? | undefined

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Ensuring strong governance concerning data protection and ensuring data privacy should be the key concerns of
authorities. Photo: Reuters

The government aims to transform the country into Smart Bangladesh.

This is in line with the ongoing trends in globalisation, growth in countless
industries, transformation in business processes and diversification in
economies around the world. People, organisations, and nations are more
interconnected than ever. And, data, which continues to grow in size and
complexity at an astounding rate, sits at the centre of today's most
pressing business challenges.

Alongside several societal and regulatory shifts, businesses are facing

challenging times, and it has also contributed to a steady rise in the i idence of
domestic and international disputes. The spectrum of risks the organisations will
have to navigate in a post-COVID era is no longer limited to the workplace,
because of the way data is being shared and how internal systems interact due to

remote work. Organisations will now have to step up to support and integrate the
dream of building a Smart Bangladesh, where everyone will learn to do
everything online. Bangladeshí economy will be an e-economy, where the entire

money management system, including e-governance, e-education, and e-health.

will be done on digital devices.

atithouahts/smart-bangladesh-ready-confront-data-risk-589346
 Is Smart Bangladesh ready to confront data risk7 | undefined

he risks relating to emerging data sources such as collaboration platforms and

cloud file-sharing tools were not a topic of conversation in previous years.
However, the increase in focus towards Smart Bangladesh and investment and
growth of the ICT sector are indicative of the explosion of emerging data in the
coming years. The ICT sector is evolving very fast, and data maps are changing

frequently with new start-ups coming up with new application tools.

and ensuring data
Creating strong governance concerning data protection
data breach, has therefore become
privacy and security, to prevent fallout from a
so will the belief
and will continue to be a key area of focus in the coming years;
It is now high time to
that regulators will become more active and stringent.
well prepared in data privacy,
internally align, re-assess and be reasonably
information governance and security, keeping in
mind the impact of emerging

data sources on everything.

embezzlement, gambling, online

Money laundering, fraud, bribery, corruption,
of hundreds of
IP theft, illegal financial e-transactions and misappropriation
other
Crores worth of assets, and acquiring
assets in Dubai, Malaysia and

and foreign fraudsters, and is in

countries, have become very common to local
the rise due to lack of digital security.

level of
The perpetrators of these crimes taking advantage of the low
are

understanding and implementation of existing regulatory

legal framework. They
instant
data sources, including chat and
are using an array of emerging
platforms, which
collaboration tools and cloud-based
messaging applications,
it difficult for law enforcement
are typically hosted by a third party, making
assess their actions.
agencies to obtain, quantify or

need to realise that these emerging data sources

Regulatory, legal and ICT experts
to access, collect and format for
are discoverable evidence, which is complicated
The relevant data which is significant for a legal or

investigation and litigation.

in a format that can be reviewed and
regulatory matter should be organised

understood in context with other information.

rise and the incidence of data

business challenges are on the
Data-related
around the world. According
to IBM Security's Cost of a
breaches is skyrocketing
breach costs rose to more than US 4.24 million,
the
Data Breach 2021 Report, data
of the report.
total cost in the history
highest average

nalndesh-ready-confront-data-risk-589346
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 Is Smart
Bangladesh ready to confront data risk? | undefined
Vhen personal data is compromised, the stakes are even
higher. Around the
world, data privacy regulations are ramping in
up enforcement, and fines under
the General Data Protection
Regulation rose by nearly 40% alone last year,
adding millions to the cost of corporate compliance due to the
increasing global
data protection laws.

Personally, I am feeling less and less prepared to defend myself against increased
levels of data risk heightened by the shift to remote work and accelerated use of
emerging data sources. Especially now, looking at the future of Smart
Bangladesh, the risk seems more pertinent than ever.

Both regulators and organisations will have to grapple with how to root out
fraud, maintain compliance, protect sensitive information and struggle to
mitigate this ever-expanding landscape of risk.

At this moment, possible

one way forward is to explore ways to include data
privacy programs and evaluate the applicable regulations and requirements for
organisations. We can identify the gaps and areas of risks across people,
processes and technology, develop a road map, policy and procedural
implementation that will automate enforcement and control, reduce third-party
risk and foster a culture of compliance.

BarristerTasnuva Shelley. Illustration: TBS

Barrister Tasnuva Shelley. Illustration: TBS

Tasnuva Shelley is the Founder & CEO Or Legalized Education and the Head of

Chambers, Justicia Legal Minds.