Member states at the Digital Cooperation Organization (DCO), which combined account for more than 500 million people, called on global technological companies to improve the increase the level of protection of user data.
DCO Secretary General Deemah Al-Yahya said that personal user data have been used in almost half of hacking operations of data around the world during 2021 alone, calling on global technological companies to protect users against misuse of their personal information.
Al-Yahya said: “If we want to unleash the full potential of the internet, digital technologies and use them to improve the lives of peoples and provide an economic opportunity, we first have to enhance people’s confidence that their personal data are truly protected, especially for groups who are less represented in the digital economy or those who are more vulnerable to face threats of hacking personal data”.
She added: We, in DCO, are proud with our exerted efforts to develop a new approach in dealing with data privacy through perpetuating cooperation between global technological companies and leaders of government institutions, where this approach is envisioned to contribute to enhancing national policies and supporting developing countries in their journeys towards implementing systems concerned with privacy and overcoming relevant economic challenges.
The joint statement shed light on several issues related to privacy standards, such as ensuring the use of data based on the knowledge and approval of users, refraining from transferring data to third parties that might hack followed systems in member states, in addition to enabling users to move or remove their data from various platforms.
The Cost of a Data Breach Report 2021 issued by IBM showed that 44% of data breaches use personal information of clients and that this kind of breach is the most expensive among other kinds, and that data breaches with personal information of clients cost an average of USD 4.24 million for each breach in 2021, marking a 10% increase compared to 2020.
Meanwhile, the joint statement stressed the importance of realizing economic prosperity, shedding light on several initiatives that the DCO launched to empower the comprehensive growth of digital economy and combat challenges that face the world under the framework of data privacy, such as establishing the Excellence Center for Data Flows, which represents a global initiative to enhance data flows among countries and develop policies concerned with data protection.
DCO is a global multilateral that aims to increase social prosperity by accelerating the growth of the digital economy. By promoting common interests and collaborative digital transformation, the DCO's mission is to enable members to empower women, youth and entrepreneurs to accelerate growth across the digital economy, and achieve greater prosperity by promoting common interests and collaborative digital transformation.
DCO member states are: Bahrain, Jordan, Kuwait, Nigeria, Oman, Pakistan, Rwanda and Saudi Arabia, where these countries combined account for more than 500 million people and a total GDP of around USD 2 trillion.
Last Modified Date: 24/02/2022 - 1:38 PM Saudi Arabia Time