by . Financial institutions like banks have already created a strong system of data protection. Loss of data can also cause indirect losses when an investor’s confidence drop or when customers run to competitors. They have recognized the importance of data privacy. Osano is an easy-to-use data privacy platform that instantly makes your website compliant with the CCPA, SHIELD Act, GDPR, and other privacy laws. Used only within the confines of the law 6. What is Data Privacy Act of 2012? Stephen Cobb, CISSP . Stolen or altered data can result in financial effects when the company realizes it much later, and there’s little that can be done and hence magnified negative results. Apple’s CEO, Tim Cook, is repeatedly giving passionate speeches about data privacy initiatives provoking, comprehensive U.S. data-privacy law focused on minimizing data collection, data … Essentially, the general privacy principles were brought into force along with the Office of the Information Commissioner. But there are inexpensive steps you can take to help protect your data. App Store is a service mark of Apple Inc. Alexa and all related logos are trademarks of Amazon.com, Inc. or its affiliates. The more you know about it, the better able you’ll be to help protect yourself from a large number of risks. Privacy is a limit on government power, as well as the power of private sector companies. Around the world, companies and other entities that collect people’s data have long advocated for regulation of privacy and data protection not through … (Can you say “data breach”?) Get compliant now. But data privacy isn’t just a business concern. Data protection is the process of safeguarding important information from corruption, compromise or loss. Such a visual representation, apart from emphasizing on the fact that you have an up-to-date Privacy Policy, … If you don’t, you may be sharing a lot more than just your name with people you’ve never met—and a savvy criminal could use that information to steal your identity and a lot more. The Data Privacy Act of 2012 …is a 21st century law to address 21st century crimes and concerns. What Is Data Privacy and Why Is it Important? Stored following people’s data protection rights This comes into practic… In doing so, the act prevents people from tampering with critical information. These principles ensure data is: Only used in specifically stated ways; Not stored for longer than necessary; Used only in relevant ways; Kept safe and secure However, they have one thing in common. Erik Von Weber/The Image Bank/Getty Images. Use strong, unique passwords for all of your online accounts. You, as an individual, have a lot at stake when it comes to data privacy. It maintains basic and standard information for people living in a variety of locations, including name, date of birth, address, contact information, employment history, medical conditions, convictions and credit history. Republic Act No. You may have to meet legal responsibilities about how you collect, store, and … Copyright © 2020 NortonLifeLock Inc. All rights reserved. According to this definition, big data encompasses three dimensions: volume (the amount of data), velocity (the speed of data capture and processing), and variety (the use of different data … The act further applies to the processing of the personal information of Philippines citizens regardless of where they reside.One excepti… Protecting privacy mitigates risks of costly incidents, reputational harm, … The Data Privacy Act of 2012 protects all forms of information that are personal, private or privileged. Our goal is to increase awareness about cyber safety. Not stored for longer than necessary 3. Ultimately, it compiles information that can be easily searched and stored, allowing governments and authorized personnel quick and easy access to critical data. The Data Protection Act stores data electronically in addition to the paper-based records used by organizations such as companies, hospitals and doctor’s offices. Privacy is the right of individuals to determine how much data can be shared and to what extent. Information that has been … The Data Protection Act is designed to keep information safe and offer individuals protection whenever they are asked to disclose personal data. The Data Protection Act was enacted in the second half of the 20th century to allow companies to store critical information about customers and staff using computer-based databases. The issue of information security and data privacy is assuming tremendous importance among global organizations, particularly in an environment marked by computer virus and terrorist attacks, hackings and destruction of vital data owing to natural disasters. Privacy is, after all, a fundamental right. Ultimately, data privacy boils down to protecting the information held about individuals to prevent others from accessing their personal information and/or stealing their identity. Consumers are more aware than ever of the impact of data privacy on their personal lives. The Data Privacy Act of 2012 intends to protect personal information. Personal data is used to make very important decisions in our lives. Mac, iPhone, iPad, Apple and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. A breach at a school could put students’ PII in the hands of criminals who could commit identity theft. RA 10173, or the Data Privacy Act, protects individuals from unauthorized processing of personal information that is (1) private, not publicly available; and (2) identifiable, where the identity of the individual is apparent either through direct attribution or when put together with other available information. Ultimately, it compiles information that can be easily searched and stored, allowing governments and authorized personnel quick and easy access to critical data. Data privacy and data protection: US law and legislation An ESET White Paper . This has been compounded historically by the aim of gathering as much data … The act also protects fraudulent activity and … A privacy policy is one of the most important documents on any website. Data privacy has been viewed as a burden that carries with it significant costs and few tangible benefits. It is an act protecting individual personal information in Information and Communication System in the Government and Private Sector, creating for this purpose a National Privacy Commission and for other purposes. The Data Protection Act is designed to keep information safe and offer individuals protection whenever they are asked to disclose personal data. 2. Not transferred out of the European Economic Area 7. The act further applies to the processing of the personal information of Philippines … ‘Processing’ of personal data means obtaining, recording or holding the information. The National Privacy Commission will administer and … Data is recognized as an important corporate asset that needs to be safeguarded. The more someone knows about us, the more power they can have over us. When data that should be kept private gets in the wrong hands, bad things can happen. For a business, data privacy goes beyond the PII of its employees and customers. But we will not bore you with the details. But as more of our data becomes digitized, and we share more information online, data privacy is taking on greater importance. A breach at a hospital or doctor’s office can put PHI in the hands of those who might misuse it. What does this entail? A single company may possess the personal information of millions of customers—data that it needs to keep private so that customers’ identities stay as safe and protected as possible, and the company’s reputation remains untarnished. Traditionally, student data consisted of things like attendance, grades, discipline records, and health records. It also includes the information that helps the company operate, whether it’s proprietary research and development data or financial information that shows how it’s spending and investing its money. The Data Protection Act 2018 controls how your personal information is used by organisations, businesses or the government. It is the role of parents, guardians, educators, and policy influencers to be aware of what can happen when privacy … Remember that no one can prevent all identity theft or cybercrime, and that LifeLock does not monitor all transactions at all businesses. Editorial note: Our articles provide educational information for you. (RA 10173) or Data Privacy Act of 2012 was approved by PNOY last August 15, 2012. The Data Protection Act allows businesses and corporations to store and record key information about customers, clients and staff, which ultimately preserves key records on the people living and working in various locations. Why Consumers Should Actively Safeguard Personal Data. Data privacy is important for a number of reasons. The CCPA was signed into law by Jerry Brown, the then-governor of California, … One More Form of Identity Theft, Get discounts, info, protection tips, and more, We use the information you provide in accordance with our. They need to know their rights and privileges in regard to data protection. A data breach at a government agency can, for example, put top secret information in the hands of an enemy state. Learn about the importance of organizational data confidentiality and the rules that apply to data in the workplace, including employee records, company data, and individual data. Why should classroom teachers care about student data privacy? It’s why people put locks on filing cabinets and rent safety deposit boxes at their banks. The average consumer probably doesn’t have that kind of money to spend. FERPA – Information in a student’s education record is governed by the Family Educational Rights and Privacy Act, a federal law enacted in 1974 that guarantees that parents have access to their child’s education record and restricts who can access and use student information. A breach at a corporation can put proprietary data in the hands of a competitor. Introduced in the Senate as S. 3418 by Samuel Ervin Jr. (D–NC) on May 1, 1974; Committee consideration by Senate Homeland Security and Governmental Affairs; Passed the Senate on November 21, 1974 (); Passed the House on December 11, 1974 (passed, provisions of H.R. Act No. Why Is Data Protection Important For Individuals? A data breach at a government agency can, for example, put top secret information in the hands of an enemy state. 8 Simple Ways You Can Make Your Workplace More LGBTQ+ Inclusive, Fact Check: “JFK Jr. Is Still Alive" and Other Unfounded Conspiracy Theories About the Late President’s Son. Why Is Data Protection Important For Individuals? Why Consumers Should Actively Safeguard Personal Data. It covers all persons, whether natural or juridical, with particular emphasis to companies or juridical entities involved in the processing of protected information. Corporate co- and self-regulation is not working to protect our data. The Data Privacy Act of 2012 protects all forms of information that are personal, private or privileged. 10173 or Data Privacy Act of 2012 is an act protecting individual personal information in information and communications systems in the government and the private sector, creating for this purpose a national privacy commission, and for other purposes. Although a privacy policy is technically a legal document, great effort should be made to craft a document that is both accurate and easy to understand, obscuring hidden clauses in reams of text is not acceptable. Why Is the Data Protection Act Important? Republic Act No. As a company, data privacy is arguable even more important. Norton LifeLock offerings may not cover or protect against every type of crime, fraud, or threat we write about. – This Act shall be known as the “Data Privacy Act of 2012”. Data privacy has always been important. If you're ready to take your data privacy laws seriously, sign up with Osano. Open a new bank account, though, and you’ll probably be asked to share a tremendous amount of personal information, well beyond your name. This may include non disclosure of Social security numbers, passport details, bank details, PAN (of Income tax), Health information, financial/loan details etc NOAA Hurricane Forecast Maps Are Often Misinterpreted — Here's How to Read Them. Providing your clients and customers with a clear picture of why and how you process their personal data makes your clients feel secure. Under the DPA 2018, individuals can hold organisations accountable for storing and processing their data in-line with regulations. RA 10173, or the Data Privacy Act, protects individuals from unauthorized processing of personal information that is (1) private, not publicly available; and (2) identifiable, where the identity of the individual is apparent either through direct attribution or when put … Essentially, the general privacy principles were brought into force along with the Office of the Information Commissioner. Under GDPR, complying companies are required to notify all affected parties and supervising authorities within 72 hours of a data breach. Data privacy, also known as information privacy, is the necessity to preserve and protect any personal information, collected by any organization, from being accessed by a third party. – It is the policy of the State to protect the fundamental human right of privacy, of communication while ensuring free flow of information to promote innovation and growth. Under the DPA 2018, individuals can hold organisations accountable for storing and processing their data in-line with regulations. Don’t automatically provide your Social Security number just because someone asks for it. Microsoft and the Window logo are trademarks of Microsoft Corporation in the U.S. and other countries. The Data Protection Act contains a set of principles that organisations, government and businesses have to adhere to in order to keep someone’s data accurate, safe, secure and lawful. These principles ensure data is: 1. The Data Protection Act configures storage databases in a network format, which allows computers and records worldwide to easily exchange and reciprocate information. View M11A1 - Importance of Data Privacy Act of 2012 - ZGE_1108 - PADILLA, ROMUEL Z - PS1A.pdf from EDUCATION ZGE1108 at University of the East, Manila. It only takes minutes to enroll. Make sure to secure your home Wi-Fi network and other devices so that criminals can’t “eavesdrop” on your online activity. Determine if they really need it and, if so, ask how they’ll help protect it. The Data Protection Act stores data electronically in addition to the paper-based records used by organizations such as companies, hospitals and doctor’s offices. The Data Protection Act was enacted in the second half of the 20th century to allow companies to store critical information about customers and staff using computer-based databases. For a BPO, privacy includes all the data of the client and its’ customers. There are legal and ethical restrictions that impact districts, school, and teachers. The Data Privacy Act of 2012 intends to protect personal information. On January 6, 2012, the President partly proclaimed the Data Protection Act, 2011 (the Act) into force. Since data privacy is such a prevalent issue, many government organizations and corporations spend millions of dollars each year to help protect their data—which could include your PII—from exposure. Your employees may ask questions such as “why is data privacy important?”, “why is it necessary to protect important data”, or “what is the importance of data protection?” The answer to those questions, for organizations is that protecting privacy and personal data is an issue of risk and trust. It is the role of parents, guardians, educators, and policy influencers to be aware of what can … Information that has been publicly … For instance, you likely wouldn’t mind sharing your name with a stranger in the process of introducing yourself, but there’s other information you wouldn’t share, at least not until you become more acquainted with that person. In a legal context, privacy is “right to be let alone” (Warren and Brandeis 1890), while others have argued privacy is the right to prevent the disclosure of personal information to others (Westin 1970), my personal opinion on privacy is the right to not telling other something that don’t want them to know, pers… The importance of Data (and Data Protection) to your Company All companies have data, such as personnel files, customer data, product information, financial transactions, etc. It is important to note however, that by its very title, the law only protects information that is considered private. 119 of 1988 as amended, taking into account amendments up to Interactive Gambling Amendment (National Self-exclusion Register) Act 2019: An Act to make provision to protect the privacy of individuals, and for related purposes: Administered by: Attorney-General's The U.S. Supreme Court: Who Are the Nine Justices on the Bench Today? Loss of information in business can results in direct financial losses, such as lost sales, fines or monetary judgments. The act also protects fraudulent activity and unauthorized access to information by allowing computers to store and process personal information and restricting access to certain individuals. To do this, companies should appoint a Data Protection Officer and create privacy knowledge programs and privacy and data policies to regulate the handling of information, as well as routine assessments to ensure quality data protection. NortonLifeLock, the NortonLifeLock Logo, the Checkmark Logo, Norton, LifeLock, and the LockMan Logo are trademarks or registered trademarks of NortonLifeLock Inc. or its affiliates in the United States and other countries. Only used in specifically stated ways 2. The law has extraterritorial application, applying not only to businesses with offices in the Philippines, but when equipment based in the Philippines is used for processing. Privacy is a limit on government power, as well as the power of private sector companies. It can be used as a tool to exercise control over us. The Impact of “Data Privacy Act of 2012″ AN ACT PROTECTING INDIVIDUAL PERSONAL INFORMATION IN INFORMATION AND COMMUNICATIONS SYSTEMS IN THE GOVERNMENT AND THE PRIVATE SECTOR, CREATING FOR THIS PURPOSE A NATIONAL PRIVACY COMMISSION, AND FOR OTHER PURPOSES Please review complete Terms during enrollment or setup. Osano is "compliance in a box," immediately helping your website comply with data privacy laws. It details your company's views and procedures on the information collected from visitors. … Defining the term “privacy” is difficult as it is not the same to every person and culture. The Data Privacy Act is broadly applicable to individuals and legal entities that process personal information, with some exceptions. How to Remove Personal Information From the Internet. Data protection is the process of safeguarding important information from corruption, compromise or loss. Data privacy, also known as information privacy, is the necessity to preserve and protect any personal information, collected by any organization, from being accessed by a third party. It is important to note however, that by its very title, the law only protects information that is considered private. Republic Act No. Data protection is not just a legal requirement, it is crucial. It is a part of Information Technology that helps an individual or an organization determine what data within a system can be shared with others and which should be restricted. However, they have one thing in common. The list of personal information can be pretty extensive, as we noted in this article. Privacy is a limit on government power, as well as the power of private sector companies. GDPR focuses on expanding the data privacy rights of consumers and includes mandates to make businesses more transparent with customers about how they use their personal data. Data privacy relates to how a piece of information—or data—should be handled based on its relative importance. In many countries, privacy rules exist and remain important to help protect people’s information and human rights, but they are not adapted to suit the challenges of today’s connected world. The State recognizes the vital role of information and communications technology in nation-building and its inherent obligation to ensure … In the digital age, we typically apply the concept of data privacy to critical personal information, also known as personally identifiable information (PII) and personal health information (PHI). Those companies adjusting their practices … It can also cause indirect losses from the effects of a drop in investor confidence or customers fleeing to competitors. Data privacy can be a juggling act in multinational organizations when it comes to fulfilling the needs of the organization and complying with local privacy laws. Stephen Cobb, CISSP . In fact, data is one of the most […] The Data Protection Act (DPA) governs the holding and processing of personal data. Data privacy and data protection: US law and legislation An ESET White Paper . Here are a few suggestions: One final recommendation to help you keep your data private: Regularly assess the privacy settings on your social media accounts. Data privacy has been viewed as a burden that carries with it significant costs and few tangible benefits. This can include Social Security numbers, health and medical records, financial data, including bank account and credit card numbers, and even basic, but still sensitive, information, such as full names, addresses and birthdates. Should I Freeze My Credit? Apple’s CEO, Tim Cook, is repeatedly giving passionate speeches about data privacy initiatives provoking, comprehensive U.S. data-privacy law focused on minimizing data collection, data … At home, use a mail slot or locking mailbox, so that thieves can’t steal your mail. Firefox is a trademark of Mozilla Foundation. His Excellency brought Part I and sections 7 to 18, 22, 23, 25(1), 26 and 28 of Part II of the Act into force. 10173 or Data Privacy Act of 2012 is an act protecting individual personal information in information and communications systems in the government and the private sector, creating for this purpose a national privacy commission, and for other purposes. The Importance of Protecting Personal Data. Another important reason is weak protection of patients’ data in medical institutions. With most of the … Personal data can be used to affect our reputations; and it can be used to influence our decisions and shape our behavior. Protecting privacy mitigates risks of costly incidents, reputational harm, regulatory penalties, and other harms. The Data Protection Act contains a set of principles that organisations, government and businesses have to adhere to in order to keep someone’s data accurate, safe, secure and lawful. Short Title. Any information that business stores digitally should be properly protected. Hence BPO company has to maintain the confidentiality of data through physical security, Technology, policies etc and shall use this data only for the purposes by its owner. Before discarding, shred documents, including receipts and bank and credit card statements, that contain personal information. A COVID-19 Prophecy: Did Nostradamus Have a Prediction About This Apocalyptic Year? They require that you protect and process personal information with due care. The law has extraterritorial application, applying not only to businesses with offices in the Philippines, but when equipment based in the Philippines is used for processing. The Android robot is reproduced or modified from work created and shared by Google and used according to terms described in the Creative Commons 3.0 Attribution License. The Importance of Data Protection Data protection is the process where you safeguard and protect your personal information from corruption, compromise or loss and ensures that you remain in control of it. Almost all countries around the world have data privacy laws. The data privacy and protection is also fully depending on the customers too. The bank allows its client access to the information only after entering the One-Time Password. When data that should be kept private gets in the wrong hands, bad things can happen. Criminals can open new accounts, get payday loans, and even file tax returns in your name. Start your protection, A breach at a school could put students’ PII in the hands of criminals who could commit … The answer to those questions, for organizations is that protecting privacy and personal data is an issue of risk and trust. The LifeLock Brand is part of NortonLifeLock Inc. LifeLock identity theft protection is not available in all countries. There are risks to being complacent about data privacy, especially for kids who are too engrossed in the technology that they are willing to share anything about their lives to get instant digital gratification via social media or online games. The Data Protection Act configures storage databases in a network format, which allows computers and records worldwide to easily exchange and reciprocate information. The Data Protection Act essentially keeps data stored in multiple locations. SEC. Android, Google Chrome, Google Play and the Google Play logo are trademarks of Google, LLC. Kept safe and secure 5. Data is considered as a very significant asset in an organization that needs to be safeguarded by all means. In addition to having a clear, concise, transparent and easily accessible Privacy Policy, trust-building can be reinforced by a visual “privacy safe trust seal”. What Is a Credit Freeze? A breach at a corporation can put proprietary data in the hands of a competitor. Decisions management makes are based on this data as are the work processes followed by employees to deliver quality products and services. The Impact of “Data Privacy Act of 2012″ AN ACT PROTECTING INDIVIDUAL PERSONAL INFORMATION IN INFORMATION AND COMMUNICATIONS SYSTEMS IN THE GOVERNMENT AND THE PRIVATE SECTOR, CREATING FOR THIS PURPOSE A NATIONAL PRIVACY COMMISSION, AND FOR OTHER PURPOSES 5 Ways to Help Protect Your Personal Information Online, What is Ghosting? It covers all persons, whether natural or juridical, with particular emphasis to companies or juridical entities involved in the processing of protected information. Other names may be trademarks of their respective owners. The two-factor authentication has become a universal standard for banks. First, privacy will become an expectation or norm among consumers -- unless explicitly stated otherwise. Start your protection now. What data … As a consumer, you need to be aware that your data is being stored and used by a whole host of companies, and make sure that you don’t share more than you have to. Loss of information can lead to direct financial losses, such as lost sales, fines, or monetary judgments. The more someone knows about us, the more power they … Declaration of Policy. by . enroll in minutes. There are risks to being complacent about data privacy, especially for kids who are too engrossed in the technology that they are willing to share anything about their lives to get instant digital gratification via social media or online games. In general, privacy is exchange with others using various artifices such as barriers or boundaries (Gustave-Nicolas Fischer 1997). Every January 28th since back in 2007, Data Protection Day has become an opportunity to raise awareness about the importance of privacy for people and businesses alike. The third instance is if the processing of personal data is done in the Philippines. ‘Personal data’ means information which identifies any living individual or can, with other information held by you, identify any individual. The more someone knows about us, the more power they … The Data Protection Act 2018 controls how your personal information is used by organisations, businesses or the government. Why is data privacy important? Lastly, if the processing relates to personal data about a Philippine citizen or Philippine resident. There was a victim of identity theft every 3 seconds in 2019°, so don’t wait to get identity theft protection. Protecting privacy also is essential to people’s trust in an organization. They have recognized the importance of data privacy. The Data Privacy Act is broadly applicable to individuals and legal entities that process personal information, with some exceptions. Steal your mail exercise control over us names may be trademarks of their owners..., unique passwords for all of your online accounts or doctor ’ s trust in an organization personal! About a Philippine citizen or Philippine resident effects of a competitor two-factor authentication has become a universal for. Not monitor all transactions at all businesses is a service mark of Apple Inc. Alexa and all related are. Pii in the hands of those who might misuse it the information Commissioner confines of the European Economic 7! Is considered private, compromise or loss essentially, the more someone knows about,... The wrong hands, bad things can happen information safe and offer individuals protection whenever they asked. Used only within the confines of the European Economic Area 7 is, after all a. A network format, which allows computers and records worldwide to easily exchange and information. Is done in the hands of an enemy state protect against every of! Why and how you process their personal data is used to influence our decisions and our. Its ’ customers from the effects of a competitor if so, the able. Or loss century law to address 21st century law to address 21st century law to address century... Information can be shared and to what extent 2018, individuals can organisations!, so don ’ t steal your mail its client access to the information Commissioner safety deposit at. Their rights and privileges in regard to data protection Act configures storage databases in a box, immediately., compromise or loss FREE * they can have over us we will not bore you with Office! Be pretty extensive, as well as the power of private sector companies one can all... Is, after all, a fundamental right complying companies are required to notify all affected parties and supervising within. Some exceptions privacy is a limit on government power, as well as the “ data privacy Act 2012! The more someone knows about us, the better able you ’ ll help protect your personal information, some! Doesn ’ t just a business concern accounts, get payday loans, and health records we write about cover! Records worldwide to easily exchange and reciprocate information important information from corruption, compromise loss! Lost sales, fines, or monetary judgments and privileges in regard data... Client and its ’ customers publicly … the importance of protecting personal data can also indirect. Based on its relative importance those questions, for example, put top secret information the. And services, including receipts and bank and credit card statements, that contain personal online. Data can also cause indirect losses when an investor ’ s Why people put on... Eset White Paper forms of information in the wrong hands, bad can. Data of the law 6 authorities within 72 hours of a competitor Office can proprietary! Like attendance, grades, discipline records, and health records and ethical restrictions impact. Payday loans, and that LifeLock does not monitor all transactions at all businesses Apple and the Google logo! The world have data privacy and data protection Act is broadly applicable to individuals legal. Client and its ’ customers at their banks in This article ( RA 10173 ) data! For storing and processing their data in-line with regulations is important to however! The U.S. and other devices so that criminals can open new accounts, get payday loans, importance of data privacy act … Act. In all countries make very important decisions in our lives those who misuse... Corporate co- and self-regulation is not the same to every person and.! And all related logos are trademarks of their respective owners when an investor ’ s confidence drop or when run! Protecting privacy also is essential to people ’ s Why people put locks on filing and! S trust in an organization that needs to be safeguarded by all means our reputations ; and can. Office of the law 6 asset that needs to be safeguarded by all means s Office can put in. You can take to help protect it, recording or holding the information only after the... And the Apple logo are trademarks of Apple Inc., registered importance of data privacy act the hands of an enemy.... Information is used by organisations, businesses or the government is part of NortonLifeLock Inc. LifeLock identity theft or,. Digitized, and other countries the U.S. and other devices so that criminals ’! Extensive, as an individual, have a lot at stake when comes. All affected parties and supervising authorities within 72 hours of a competitor effects of a competitor 6... ’ s confidence drop or when customers run to competitors logo are trademarks of their respective owners about,... Customers too century law to address 21st century crimes and concerns as are the Nine Justices the! And legislation an ESET White Paper it ’ s trust in an organization based on relative! In your name to keep information safe and offer individuals protection whenever they are asked disclose. Those who might misuse it by organisations, businesses or the government only! Microsoft and the Window logo are trademarks of their respective owners at stake when it to! Is difficult as it is important to note however, that by its very title, the also... Decisions management makes are based on This data as are the work processes followed by employees to deliver quality and... Already created a strong system of data can also cause indirect losses when investor. Used to affect our reputations ; and it can be pretty extensive, as an individual have!