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Businesses prepare for new data protection rules

19 February 2018 - 10:47 by Graham Miller

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The General Data Protection Regulation (GDPR) is set to come into force in May, paving the way for improved privacy and security that can be enjoyed across the UK and the EU. Now a new study from EfficientIP has found that the majority of organisations that will have to comply with its requirements are ready for its arrival.

Internet Retailing reports that 72 per cent of firms worldwide have made the necessary changes to policy, or will be doing so before the deadline, to bring themselves in line with the stricter rules of the GDPR.

In Britain, a slightly above-average 73 per cent of businesses are on track to achieve this although, interestingly, they are outshone by their counterparts in the US where readiness levels are at 84 per cent.

Analysts expect that once the regulation comes into effect, levels of trust among consumers will increase as they realise that the businesses they deal with are going to be more careful about how they handle personal information.

Organisations of all sizes will also have to take greater steps to tackle potential security risks in the digital realm, ensuring that customers can carry out safe shopping online without worrying that their data will be hacked by malicious third parties.

Report spokesperson, Herve Dhelin, said that with less than 100 days until the GDPR is enforceable, there are still a number of businesses that need to get their act together or avoid falling foul of regulators.

He also said that the tougher rules would incentivise the act of preventing data breaches and allowing people to carry out safe shopping online with international outlets, rather than being worried about whether an overseas transaction would be a security risk. This should stimulate sales growth around the globe.