Are You Mistaken About Your GDPR Compliance?
More than 90% of large companies say that they are prepared for GDPR, but only a few have taken the steps to ensure they are compliant.
The study, by law firm Paul Hastings, surveyed general counsel and chief security officers in the FTSE 350 and Fortune 500. It subsequently found the following:
- Fewer than half (43%) are setting up an internal GDPR team.
- A third of companies across both regions are outsourcing their GDPR gap analysis.
- Although appointing a data protection officer is a key requirement for the regulation, only 29% of UK enterprises have hired one.
- This figure is as low as 18% in US firms.
Behnam Dayanim, partner and global co-chair of Privacy and Cyber Security practice at Paul Hastings, said:
“Achieving GDPR compliance is an enormous task – one that in our experience almost inevitably requires dedicated resources and budget. Against that backdrop, the confidence among major corporations revealed in our survey seems mismatched with those same businesses’ reports of their implementation efforts.
“With so few companies undertaking key compliance measures to date, it will be a race to the finish line for those needing to meet the terms of this wide-reaching regulation. This unfortunately seems to be setting up a scenario for multiple investigations and enforcement activities once the implementation date arrives.”
GDPR and Cyber Security
More than half of Cyber Security specialists in the UK and USA are worried about their compliance. This suggests business leaders don’t understand cyber risks, according to CA Veracode.
To find out more about how to prepare yourself for May 2018. Visit: https://www.softwareadvisoryservice.com/blog/is-your-business-prepared-for-gdpr/
