News

On Data Privacy Day – think and act now before it’s too late

27/01/2017

Data Privacy Day is observed every January 28 as a reminder to protect and safeguard private data. Is your business ready for the EU GDPR ? Use Data Privacy Day to start focusing on your business’ data health and security.

 

Safeguard privacy or face huge data breach fines in 2018

UK businesses could face up to £122bn in penalties for data breaches when new EU General Data Protection Regulation (EU GDPR) legislation becomes enforceable in May 2018. This new EU legislation is definitely an absolute game-changer for both SME and large organisations.

 

Fines and enforcement

With fines of up to 4% of global annual turnover or €20 million Euros (whichever is the higher) agreed, the new legislation will put data protection on a par with anti-trust and anti-bribery sanctions there is a great deal for organisations to do between now and Spring 2018.

 

Other risks
In addition to fines businesses need to be very conscious of the reputational damage, business disruption and revenue loss, which will also have a significant impact on businesses suffering a data breach.
Even though the UK voted to leave the EU, the EU GDPR will still be applicable to UK organisations. Until the Brexit negotiations and process are completed following the invocation of Article 50, UK organisations must fully comply with the EU’s laws. Furthermore, the ICO, who is not shy of issuing large fines was at the forefront of the EU GDPR’s development, so it’s very likely that the current UK Data Protection Act (DPA) will be updated to reflect the more rigorous requirements of the EU GDPR.

The ICO has warned that they expect to see organisations taking responsibility for their actions, despite the pace of technological change, saying it is up to individual businesses to understand the risks they are creating for others, and to mitigate them.

 

Still a worrying lack of awareness
• More than half of European companies do not know about the new legislation planned to unify the data protection laws.
• Only half of UK IT decision-makers are aware of the upcoming EU GDPR, compared with 87% in Germany.

 

 

Use Data Privacy Day to start focusing on your business’ data health and security.

Information security solutions made simple

 

A company’s data security is only as strong as its weakest link. Prevention is better than cure – download the brochure and start the process of securing your business data today.

 

Cardwave has produced an “Information Security Solutions Made Simple” guide packed full of information, resources and downloads to help inform your business’ security. Download a copy today from http://tinyurl.com/ISSMS
The guide also includes information about our SafeToGo® hardware encrypted USB which is being used across all sectors in Europe, including healthcare, schools and government organisations, to safeguard sensitive data on the move.

SafeToGo

 

Source computer weekly,ICO, PCI SSC, SafeToGO, data privacy day
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