GDPR +1 Year: Business Struggles with Data Privacy Regulations Increasing
A new survey finds that businesses around the world are having increasing difficulty complying with data privacy regulations, even one year after GDPR took effect.
A whopping 79 percent of global businesses surveyed say that they are either failing to meet GDPR and other data privacy-related regulations, or are having trouble keeping up to date, or both. This compares with 72 percent prior to GDPR implementation.
GDPR or General Data Protection Regulation took effect on May 25, 2018, marking the most significant change in data privacy in decades. Thomson Reuters surveyed data privacy professionals at major global organizations in nine countries. Surveys were conducted in 2017 and again in late 2018 — before and after GDPR went into effect.
Even businesses continue to struggle with GDPR, data privacy regulations, laws and guidance are being adopted in more countries. According to the experts at Thomson Reuters Data Privacy Advisor, several other countries have adopted new data privacy laws, regulations, or guidance in the wake of GDPR, including Brazil, Peru, Bahrain, and Israel. Various bills have been introduced in Congress to expand U.S. data privacy laws, with more comprehensive solutions under discussion.
The California Consumer Privacy Act (CCPA), which establishes strict new data privacy requirements, is set to take effect on Jan. 1, 2020. The survey found that 81 percent of businesses worldwide are aware of CCPA, but barely half (57 percent) consider themselves knowledgeable about it.
“GDPR +1 Year: Business Struggles with Data Privacy Regulations Increasing” can be downloaded here: http://ask.legalsolutions.thomsonreuters.info/GDPR1YearBusinessStrugglesReport