Known as the General Data Protection Regulation or GDPR, the EU describes the new requirements as “the most important change in data privacy regulation in 20 years.” Intended to replace the current European Data Protection Directive and standardize the laws governing data privacy across the EU’s member countries, it is meant to reshape the way organizations across the region deal with data privacy.
A recent survey of 132 compliance officers finds, however, that only a handful of companies are prepared to meet the new regulation’s requirements.
The CGOC (Compliance, Governance and Oversight Council) today released the results of a survey and accompanying infographic that reveals most enterprises are not ready to comply with the EU’s General Data Protection Regulation (GDPR), which goes into effect on May 25, 2018. According to Top Corporate Data Protection Challenges, a survey of 132 compliance officers from organizations around the world and across multiple industries, only 6 percent of respondents feel their organizations are currently compliant with the upcoming regulation. The results also indicate most organizations are concerned about their poor data disposal practices and ability to demonstrate compliance, key elements of GDPR readiness. Organization size had no significant impact on readiness levels. Read more for the complete Top Data Protection Challenges Survey results and to download the infographic.
MEDIA ADVISORY, Oct. 17, 2017 (GLOBE NEWSWIRE) -- The CGOC (Compliance, Governance and Oversight Council) announced that registration is now open for the Council’s regional meeting in London, England on November 14, 2017.
There is no cost to attend. Registration is available at the www.CGOC.com/events
Data Protection in the Modern Enterprise
- Operationalizing Legal Theory - How to Mobilize a GDPR Program
- GDPR's Impact on Incidence Response to a Data Security Breach
- Aligning GDPR with Other Regulations: PSD2, EU NIS Cyber Directive, etc.
- Harnessing Technology in GDPR Transformation
“This year’s CGOC event in London will provide attendees the vital information they need to navigate today’s most pressing data challenges, including incidence response to a security breach, mobilizing a GDPR program and aligning GDPR with other regulations,” said Heidi Maher, Executive Director, CGOC. “It also provides a rare opportunity to network with some of the top experts in privacy, compliance and information governance.”
Consider how many organizations embark on a big data initiative. They purchase the right technology and begin pooling data from disparate systems into data lakes or data warehouses. But how do they know which data stores to use? How sure can they be of the lineage and integrity of their data? What can they do to ensure that their data lake doesn’t become a data swamp? The answer is simple: Start with a unified governance approach.
Cyberattacks aren’t the only significant threats facing enterprises today. Companies often find themselves needing to conduct extensive and costly investigations into employee behavior. For example, I was recently involved in an internal investigation that was estimated to cost a global Fortune 500 company more than $1 million just for the investigation itself. Of course, costs can run much higher when settlements and other legal fees are included. According to the Mintz Group, Foreign Corrupt Practices Act penalty amounts totaled $1.8 billion for the period from implementation of the FCPA in 1977 to May 2016. The financial impact to companies, as well as the damage to their reputations and business disruption, can be staggering, and possible litigation following an investigation can cause further financial and reputational harm.
Less than a year away from the implementation of the European Commission’s General Data Protection Regulation (GDPR) and stakes for companies are high. This article outlines important steps companies can take right now to make significant progress toward creating a data infrastructure that dramatically reduces the likelihood of non-compliance.
Although, eliminating all cyber incidents is impossible, a "unified governance" approach that combines security with data management and information governance (IG) can help create a business culture that promotes a strong defense. CGOC Faculty Member Ed McAndrew offers 10 steps you can follow to create a culture of cybersecurity.
Like any significant cyber incident, a successful ransomware attack can give rise to an increasingly broad array of legal, regulatory and financial impacts. Planning ahead is essential, and legal teams should consider these nine tips when assessing their companies' readiness.
The risk and cost benefit analysis of 22 key processes allows organizations to practically deal with the torrid growth of digital data, a complex regulatory environment, and increasing adoption of cloud computing and machine learning.
If you think IG is tough at a typical enterprise, wait until you go through a corporate restructuring in today’s environment, when the risks are magnified, the challenges are stark, and IG failures frequently blow up both the budget and timeline set for the restructure, undercutting business goals.