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General Data Protection Regulation (GDPR)

The convenience of not having the headache of hosting behind your own firewall verses the perceived risk of critical data being held in a third-party environment has reached a commercial comfort level but threats to remote data centres must always be clearly understood and managed accordingly as well as within your own technical domain.

With the new GDPR act coming into force in the UK in May 2018 with fines up to 4% of your Global turnover, the financial impact of data loss can be felt across the business and of a significant nature.

A British bank in Autumn 2016 had a data breach which affected 9000 customers who lost in excess of £2.5million from their personal accounts seen as the most orchestrated attack ever in the UK. Experts believed the fine could have been as much as £1.9billion which represented 4% of the global turnover of the combined banking group!

Getting a handle of the GDPR legislation will need a thorough understanding and implementation of data security using technology, compliance and procedures. Choosing your partners carefully will be a key decision in implementing effective strategy and counter measures!

“Over two-thirds of European and US CIOs (68%) still don’t have a proper plan in place to comply with the coming European General Data Protection Regulation (GDPR), especially when it comes to the mainframe…” Compuware survey.

“97% of respondents have heard of the GDPR but only 7% said they know “a great deal” about it” Lloyd’s UK survey.

“94% of Cloud Services Not GDPR Compliant” Security Week.

“GDPR Fines Could Cost Firms Over $320 Billion” Infosecurity Magazine.