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Exec Survey: 24% ‘Don’t Know’ How to Prep for Incoming EU Cyber Regulations

October 20, 2017 Leave a comment DRI Admin

For many organizations in the world doing business in Europe, cyber risk has jumped to the top of the agenda, as companies prep for the European Union’s upcoming data regulations. But nearly a quarter of these organizations don’t know what their next step should be.

The EU’s General Data Protection Regulation (GDPR), going into effect May 2018, will establish strict requirements governing how organization doing business in the EU must manage and protect personal data and strengthen individuals’ privacy rights. These changes mean businesses everywhere will have to improve their cyber risk management, and soon.

A recent global survey asked over 1,300 senior executives, “What progress has your organization made toward GDPR compliance/readiness? The responses:

  • 8% – Fully compliant
  • 57% – Developing a plan for Compliance
  • 11% – Have not developed/are not planning to develop a plan
  • 24% – Don’t know

Those who said their organization was compliant developing plans were more than three times as likely to adopt some cybersecurity measures (such as encrypted computing, response plans, cyber risk insurance) as those who hadn’t started planning. Part of the reason may be size: these organizations have more resources to invest and management support.

Click here to read the complete survey.

As your organization prepares itself for GDPR compliance, familiarize yourself with the cyber risks you may face and your responsibilities to take them on – register today for DRI’s next IT/DR Planning course, to be held online Nov. 2-3.