From: EurActiv.com
An increase in cyber security attacks across commercial enterprises and service providers, and a consumer market wary of data privacy and protections, provide a backdrop for the forthcoming data privacy rule changes. Companies need to get ready fast, according to consultant Ryan Rubin.
Ryan Rubin is the managing director for EMEA of Protiviti, a security and privacy IT technology consultancy
As the European Commission works towards unifying data protection under the General Data Protection Regulation (GDPR), it is imperative that IT professionals familiarise themselves and take the necessary steps to reduce their organisation’s exposure to data privacy risks.
GDPR is a game changer for European data privacy regulation for two important reasons: greater transparency and greater accountability. Firstly, it calls for companies to respond more quickly to a data breach and also requires that they notify their customers within 24 hours of becoming aware of one. Secondly, fines for noncompliance have moved significantly; from a capped fee to one that will range up to 5% of global turnover. Equally important is that application of these rules will also apply to any non-European company handling EU-specific data.
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