Many businesses and other organizations are struggling to comply and stay current with the data privacy regulations in effect where they operate around the globe, according to a new Thomson Reuters survey.
Nearly half of organizations surveyed said they are failing to adhere to data privacy regulations, reports the Thomson Reuters Data Privacy Compliance Survey. And about the same proportion are struggling to keep up-to-date or are falling behind in data privacy regulations.
You can download a copy of the Thomson Reuters Data Privacy Compliance Survey below
Adding to the urgency of the issue, the new General Data Protection Regulation (GDPR) takes effect on May 25, 2018 for all companies conducting business in the European Union. GDPR compliance is already taking up 31% of the average data privacy budget.
The survey compares results for organizations in the U.S., U.K., Canada, France, Germany, Singapore, Australia, New Zealand and Hong Kong. The organizations had average global revenues of approximately $282 million.