ompanies have experienced a big wake up call due to new data privacy laws, and more work obviously needs to be done.
Despite years of preparation to become compliant with the European Union’s General Data Protection Regulation, effective in May 2018, breach notifications have exceeded 160,000 in Europe, with imposed and threatened fines in the millions of dollars.
That so many companies weren’t GDPR prepared was wake up call No. 1. That regulators are taking action is wake up call No. 2. Look for “many more fines,” says Patrick Van Eecke, chair of DLA Piper’s international data protection practices.