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Even if you are unaffected by the European Union's General Data Protection Regulation, there may be some things you can learn from it.
For starters, GDPR requirements put a high priority on conducting security risk assessments and developing a data protection plan. Both of those activities have long been established security best practices, even before the introduction of GDPR.
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It is clearly in the best interest of any organization to periodically review its security and data protection policies, and to assess its ability to cope with any perceived risks. The last several years have seen massive cyberattacks on retailers, government agencies and other organizations. This is in addition to the constant onslaught of other security threats, such as phishing scams and ransomware attacks. Any extra effort an organization can put into hardening its cyberdefense will be well spent.
If you look at GDPR requirements as a whole, they largely focus on the protection of personal data. Even without regulations, companies have an ethical obligation to take reasonable measures to protect customer data, and to let customers know how that data will and will not be used.
I recently read a forum post in which someone suggested that even if a company is not required to comply with GDPR, it should do so anyway on the off chance that it ever begins doing business in Europe. I personally do not recommend establishing full compliance if it is not required, as abiding by GDPR requirements is likely to be expensive.
According to a recent survey, 68% of American companies expect compliance to cost between $1 million and $10 million, with another 9% estimating the cost to be even higher.
Opportunities for organizations preparing for GDPR
Rethink data protection policy through a GDPR study
Lessons from Equifax breach include data protection
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