Final answer:
A Data controller is an entity that controls the processing and use of personal data, ensures compliance with data protection laws, and is responsible for keeping personal information secure within a business or organization.
Step-by-step explanation:
The entity described in the question is a Data controller. A Data controller is a person, public authority, agency or other body which, alone or jointly with others, determines the purposes and means of the processing of personal data. In settings such as businesses and organizations, the data controller has the authority to manage how personal information is handled and must ensure compliance with data protection laws, like the GDPR in the European Union. Examples of data controllers include financial institutions that hold customer data, hospitals with patient records, or e-commerce websites managing user information. Data controllers have an obligation to protect the privacy and security of the data they control, which includes securing it against unauthorized access and ensuring that it is used lawfully and transparently. With the evolution of cyber data issues and privacy, various international bodies like the UNCTAD are actively involved in monitoring and developing frameworks to aid countries in enhancing their data privacy legislations, such as protection against unauthorized sharing of personal data. Governments and private organizations worldwide are expected to uphold these regulations to ensure the privacy and security of the personal, financial, and medical information of the individuals they serve.