Data Privacy: What You Should Know and How to Protect Yourself

As digital interactions grow, so do concerns about data privacy and how our information is collected, used, and shared. As consumers, we share a significant amount of personal data with companies that provide us with services every day. This includes details like our location, our spending habits and even our heart rate.

With so much of our personal information circulating online and through social media, what rights do we have over its use? And more importantly, can we truly protect it?

Why Protecting Personal Information Builds Trust

January 28 is recognized throughout the world as Data Privacy Day to raise awareness of the importance of protecting personal information from misuse or abuse. The core idea of data privacy is that sharing our information doesn’t mean we should lose control over what that information is used for, or who is allowed to use it. 

“Privacy goes beyond meeting legal obligations. It is not only about laws and fines—it’s a powerful strategy that drives business growth and nurtures stronger connections,” said Yago Amat, Euronet’s Data Protection Officer. “For financial services providers like us, adopting this approach helps create lasting value for our customers, employees, and stakeholders. By prioritizing strong privacy measures and fostering open communication, we cultivate lasting partnerships and enhance our competitive edge.”

Consumers concerned about data privacy 

Some 75% of consumers state that they wouldn’t buy products or services from a company that they don’t trust to handle their data, according to a recent survey by Cisco. Moreover, most of the survey’s respondents now feel significantly more protected by local privacy laws, as more people question data practices and switch providers when standards are not met.

So, that factor—the one where consumers take into account whether they can trust a company to protect their information—becomes an all-important one. Moreover, respondents to the 2024 PwC Trust in Business survey said that protecting their data (79%), quickly responding to and resolving concerns (74%) and delivering a consistent and reliable customer experience (73%) are the most important aspects to earning their trust.

People are becoming increasingly aware of the need to take measures to protect themselves and the role data privacy laws play in helping them do so.

Are you protected by data privacy laws? 

What companies are required to do by law to protect their customers’ data varies from country to country.  One of the most significant data protection laws to date is the General Data Protection Regulation (GDPR) passed by the European Union in 2018. In the EU data privacy is considered a basic human right that must be protected.  

The GDPR governs the collection, use, transmission, destruction, and security of data collected from individuals within any of the EU’s 27 member countries, regardless of whether it’s processed there or not.

In the United States, data privacy laws are primarily established at the state level in the absence of a federal law, resulting in a complex patchwork of regulations. As of March 2025, some twenty states, including California, Virginia, and Colorado, have enacted comprehensive data privacy laws that are largely applied across different industries.

What should companies be doing to protect data? 

At Ria, we believe in Privacy by Design—that is, building privacy into our systems from the outset and adopting policies founded on basic privacy principles, such as fair and lawful processing, accountability and data subject rights, among others.  

As a subsidiary of Euronet Worldwide, Ria works with the Group’s Privacy Office, which conducts impact assessments to help identify specific risks in each of the countries we operate in and defines privacy requirements for new products and services. 

How You Can Protect your Personal Data

We also encourage our customers to take proactive steps in safeguarding their personal information. Here are seven important recommendations:

• Use strong, unique passwords and update them regularly.

• Enable two-factor authentication (2FA) wherever possible for an added layer of security.

• Be cautious when sharing personal information online or over the phone.

• Avoid using public Wi-Fi networks when accessing sensitive financial information.

• Ensure your devices are updated with the latest security patches and software updates.

• Be mindful of phishing emails and messages; always verify the sender’s identity before clicking links or providing information.

Working Together for Better Privacy Practices

We believe privacy is a shared responsibility. We encourage our customers, employees, and partners to join us in promoting better privacy practices. By staying informed, asking questions, and making security-conscious choices, we can all contribute to a safer, more secure financial environment.