Businesses have been urged to make sure they are familiar with data protection legislation in order to avoid falling foul of the law. According to figures from Software-as-a-Service provider Holdings, fears regarding the privacy of data are widespread among the global business community, largely because of uncertainties over regulation.
Some 52 per cent said they expect to be fined following the introduction of the EU General Data Protection Regulation, while two-thirds believe they will have to change their business strategy in Europe as a result of the new rules.
Figures also showed that many organisations are failing to use technology to address data privacy concerns. For instance, just 44 per cent said they monitor user activities and provide alerts when data policy violations occur.
Meanwhile, only 53 per cent said they classify information to align with access controls. Furthermore, 47 per cent admitted they do not have controls or policies that govern access to consumer-grade cloud storage and file-sharing systems.
Ron Hovsepian, chief executive of Intralinks, commented: “Immediate actions all businesses should consider to ensure compliance include establishing a data sovereignty strategy, conducting a risk assessment, educating employees and verifying that all cloud vendors meet guidelines within each region.” He pointed out that new data privacy laws are being implemented across the world in an effort to boost local economies, guard national security interests and better protect citizen data.
However, Mr Hovsepian said the rush to update how personal details are handled in each region is leading to global confusion around data sovereignty and calling international business strategies, practices and processes into question. Alan Rodger, senior analyst at Ovum, added that businesses can ensure compliance by establishing a data sovereignty strategy, educating employees, carrying out risk assessments and verifying that all cloud vendors meet guidelines in each location.