Europe Unveils Stricter Data Privacy Rules

(Audit and Risk, 2 February 2012)

In Brief: The European Commission released proposed data protection rules last week that could force companies to report data breaches within 24 hours, appoint a data protection officer, and make them liable to fines of up to 2% of global turnover. The new proposals also cover data outside the EU if “companies involved were offering services to anyone living in a member state,” explains the article.

Our View: Developing a thorough understanding of applicable laws and regulations is a crucial step in creating a leading data privacy program. Leading audit departments review data privacy programs to ensure continuous program improvement as well as effective implementation of appropriate policies and behaviors at the business unit and local site level.