Few firms will be ready for new European breach disclosure rules, fines

Survey: 80 percent of companies see GDPR as a priority, but only 25 percent have an established plan. The new European General Data Protection Regulation goes into effect next May. Failing to comply can result in a fine of 20 million Euros or 4 percent of annual global revenues, whichever is higher. Firms must have a Data Protection Officer, notify authorities without 72 hours of discovering a data breach, and delete private data of customers and employees on request. The fines were the biggest concern for executives, according to a recent survey.”]

Source: https://www.csoonline.com/article/3198112/few-firms-will-be-ready-for-new-european-breach-disclosure-rules-fines.html