It seems that the media's constant buzzing over GDPR has left no mark on the businesses in the UK – they still mostly don't know what it is, what it's for and how hard their wallets can be burned if they don't comply.
The latest study into this depressing matter was conducted by encrypted data storage provider iStorage, during its annual event in London.
It polled its participants, including IT Managers, Chief Information Officers, IT Senior Executives, Chief Technical Officers, Company Directors and IT Consultants, and here's what it found out.
A fifth of respodents (20 per cent) didn't know not complying with GDPR could lead to fines of up to €20 million, or four per cent of the company's annual turnover. More than a quarter (28 per cent) didn't know they had to report a data breach within 72 hours.
“2016 is the year of data security, it is the topic on many organisations’ lips and rightly so. GDPR will enter into effect during May 2018, and although this may seem a long way off, this period should be utilised effectively as this is the minimal time that companies will need to come to terms with new data obligations,” states John Michael, CEO of iStorage. “
We are discovering that some IT professionals are still unaware of the impact the regulation will have to their business and more worryingly, if it even applies to them!”
The GDPR, or General Data Protection Regulation, is a new regulation recently adopted by the European Union, which aims to strengthen and unify data protection for individuals within the European Union (EU).
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