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Deeper Dive: GDPR a Game-Changer for Data Breach Notification

When the EU General Data Protection Regulation (GDPR) took effect on May 25, 2018, it dramatically changed the way multinationals manage the reporting of personal data breaches.

It also substantially raised the stakes: Entities found to have violated the GDPR’s data security and breach reporting obligations could face much steeper regulatory fines than those available under U.S. laws.

Full article: Deeper Dive: GDPR a Game-Changer for Data Breach Notification

European Commission Releases Study on GDPR Data Protection Certification Mechanisms

European Commission has published a final report “Data Protection Certification Mechanisms: Study on Articles 42 and 43 of the Regulation
(EU) 2016/679”.

The overall aim of the study is to support the establishment of data protection certification mechanisms and of data protection seals and marks pursuant to Articles 42 and 43 GDPR.

More specific the purpose of the assignment is to: i) accompany the establishment of data protection certification mechanisms and of data protection seals and marks pursuant to Art. 42 and 43 GDPR and ii) collect all relevant information for the Commission in view of the possible implementation of Art. 43(8) GDPR on the requirements for the data protection certification mechanisms and of Article 43(9) GDPR on the technical standards for certification mechanisms and data protection seals and marks, and for mechanisms to promote and recognise those certification mechanisms, seals and marks.

Read report: Data Protection Certification Mechanisms: Study on Articles 42 and 43 of the Regulation (EU) 2016/679

GDPR has driven improved cyber resilience

The introduction of the General Data Protection Regulation (GDPR) has made more UK businesses more resilient to cyber risk, the UK government has said in its latest annual cybersecurity breach survey.

Survey was carried out in the final three months of 2018. The government asked 1,566 UK businesses if they had experienced cybersecurity breaches or attacks within the previous 12 months. In response, 32% of businesses said they had, down from the 43% that said they had experienced such incidents in last year’s survey.

Source: GDPR has driven improved cyber resilience, says UK government

Consumers worried about their privacy but don’t act

As recent PricewaterhouseCoopers report shows, 92% of consumers say they should be able to control the information about them on the internet and 71% say they’d stop doing business with a company for giving away their sensitive data without permission.

However, another study from IBM showed that less than half (45%) of consumers updated privacy settings. Moreover, only 16% stopped doing business with an impacted company, and only 18% deleted a social media account.

Source: The privacy paradox – Axios

Most customers would share more data for better deals from their insurer

Nearly 60% of customers say they would be willing to share significant personal information in return for lower prices and personalized offers.

However, 75% of consumers said they were very cautious about the privacy of their personal information. When asked what would make them leave their current bank or insurer, data breaches were consumers’ second-biggest concern behind increasing costs.

Source: Most customers would share more data for better deals from their insurer – report | Insurance Business

Users Crave Digital Privacy, But Aren’t Willing To Pay For It

Despite fears, 72% of consumers said they are not willing to pay social networks to ensure their personal information be protected. More (93%) believe companies and organizations should provide them with a degree of control over their personal information.

Source: Users Crave Digital Privacy, But Aren’t Willing To Pay For It 03/27/2019

61% of CIOs say employees are maliciously leaking data

A study of the root causes of insider breaches has found that 61% of IT leaders believe that employees have maliciously risked data in the last 12 months.

However, the research, which involved input from more than 250 US and UK IT leaders and 2,000 US and UK-based employees, found that employees had a very different view of the situation.

92% of employees said they had not accidentally leaked company data, while 91% said they had not done so intentionally. This suggests that employees may be unaware of being the perpetrators of insider breaches.

Source: Insider breaches: 61% of CIOs say employees are maliciously leaking data

China needs better data privacy policy to capture digital trade growth

If China doesn’t step up its efforts on issues such as data privacy and intellectual property protection, the country could miss out on a 37 trillion yuan ($5.5 trillion) growth opportunity in the decade ahead, according to analysis published Thursday by the Hinrich Foundation.

“To sustain China’s growth momentum into 2030 and beyond, China would need to hone competitive strategies beyond the low-cost advantage that has traditionally propelled its economic growth,” the report says.

Source: China needs better data privacy policy to capture digital trade growth

Data breaches ‘major contributor’ to UK fraud

Data breaches are a “major contributor” to fraud experienced in the UK, a new report by a banking industry trade association has said.

UK Finance’s ‘fraud the facts 2019’ report said £1.2 billion was successfully stolen “through fraud and scams” in 2018. Personal data stolen from businesses was used to perpetrate much of that fraud, according to the report.

Source: Data breaches ‘major contributor’ to UK fraud

EDPB LIBE report on the implementation of GDPR

On February 26, the EDPB Chair and Vice-Chair addressed the European Parliament’s Civil Liberties, Justice and Home Affairs Committee (LIBE) presenting EDPB’s first report on implementation of EU General Data Protection Regulation (GDPR) and the roles and means of the national supervisory authorities.

You can read the full report here: EDPB LIBE Report

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