By Simon O’ Connor, 18th October 2016
Cybersecurity breaches continues to be a hot topic amongst businesses. With companies gathering more and more information on their customers, there is the increased risk of damage to those individuals should a company suffer a security breach. This information could potentially have a financial impact to the people affected.
In May 2018, the European Union will be introducing new obligations which companies must adhere to to prevent such situations. This will include the obligation to appoint a Data Protection Officer, companies who suffer from a security breach will be required to notify “the supervisory authority” within 72 hours; and there will be fines for companies who are proven negligent in the case of a security breach.
Please see our checklists here which will let you know how your company is prepared for these new regulations. A negative answer to any questions on the list indicates the relevant area of risk needs to be addressed.
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