Friday, December 13, 2019
Corporate Compliance Insights
  • Home
    • Home
  • About
    • About CCI
    • Writing for CCI
    • Advertise With Us
  • Articles
    • See All Articles
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Leadership and Career
  • Industry News
  • Jobs
  • Events
    • Webinars & Events
    • Submit an Event
  • Downloads
    • eBooks
    • Whitepapers
  • Podcasts
  • Videos
  • Subscribe
No Result
View All Result
  • Home
    • Home
  • About
    • About CCI
    • Writing for CCI
    • Advertise With Us
  • Articles
    • See All Articles
    • Compliance
    • Ethics
    • Risk
    • FCPA
    • Governance
    • Fraud
    • Audit
    • HR Compliance
    • Cybersecurity
    • Data Privacy
    • Financial Services
    • Leadership and Career
  • Industry News
  • Jobs
  • Events
    • Webinars & Events
    • Submit an Event
  • Downloads
    • eBooks
    • Whitepapers
  • Podcasts
  • Videos
  • Subscribe
No Result
View All Result
Corporate Compliance Insights
Home Data Privacy

CGOC Survey of Top Corporate Data Protection Challenges Reveals Only 6 Percent of Companies Feel Ready for GDPR Compliance

by Corporate Compliance Insights
October 31, 2017
in Data Privacy, News
Data Protection infographic

Top Concerns Include Inability to Demonstrate Compliance and Revealing Poor Data Disposal Practices

AUSTIN, Texas – Oct. 31, 2017 – The CGOC (Compliance, Governance and Oversight Council) today released the results of a survey and accompanying infographic that reveals most enterprises are not ready to comply with the EU’s General Data Protection Regulation (GDPR), which goes into effect on May 25, 2018. According to Top Corporate Data Protection Challenges, a survey of 132 compliance officers from organizations around the world and across multiple industries, only 6 percent of respondents feel their organizations are currently compliant with the upcoming regulation. The results also indicate most organizations are concerned about their poor data disposal practices and ability to demonstrate compliance, key elements of GDPR readiness. Organization size had no significant impact on readiness levels.

For years before the passage of the GDPR, the CGOC focused on advice and resources to help organizations adhere to the European Data Protection Directive. However, because the Directive created only a minimum standard, many countries implemented higher and different standards, leading to confusion. The GDPR now harmonizes all of the data protection laws in the EU to protect the personal information of its citizens and residents. GDPR readiness compels organizations to know the type, value, and location of the information they store, and to delete, change or provide information as required by the regulation. Successful readiness is also aided by the regular and automatic defensible disposal of information that has no legal, regulatory or business value, a practice that can significantly reduce the burden on information asset managers to remain GDPR-compliant.

“A comprehensive and unified governance program is one of the main pillars of GDPR readiness because it ensures the involvement of all information stakeholders in the program, provides a single, centralized view of all information across the enterprise, and automates critical processes such as defensible disposal,” said Heidi Maher, CGOC Executive Director.. “As organizations build momentum for their GDPR-readiness programs, CGOC can be a helpful resource for implementing information governance strategies and practices.”

Key Survey Results

·         Only 6 percent of respondents feel their organizations are compliant with GDPR requirements, and most organizations are concerned about the inability to demonstrate compliance and revealing their poor data disposal practices.

·         34 percent of executives will sometimes let operational and cost concerns override compliance with data protection regulations.

·         50 percent of respondents identify internal staff and practices as the biggest security threat vs. 38 percent who choose external hackers. Poorly classified content is the third highest concern.

·         Although 85 percent of respondents say fine-tuning a defensible disposal program will benefit data protection initiatives, 40 percent have not even started one.

The complete Top Data Protection Challenges Survey results and infographic can be downloaded here.

About CGOC (Compliance, Governance and Oversight Council)

CGOC (Compliance, Governance and Oversight Council) is a forum of over 3,600 legal, IT, privacy, security, legal, records and information management professionals from corporations and government agencies. CGOC publishes reference guides and articles and conducts primary research. Its Benchmark Reports have been cited in numerous legal opinions and briefs and its ILG Leaders Guide has been widely referenced and adopted by organizations. CGOC has been advancing governance practices and driving thought leadership since 2004. For more information go to www.cgoc.com.


Tags: GDPR
Previous Post

Compliance Automation is Changing the Game

Next Post

What Do Basketball Recruiting and Procurement Fraud Have in Common?

Corporate Compliance Insights

Related Posts

futuristic technology projecting 2020 in white text

The Future of Data Privacy Regulation

December 12, 2019
ericsson logo on building exterior

Ericsson Agrees to Pay Over $1 Billion to Resolve FCPA Case

December 6, 2019
multicolor stack of credit cards on white background

How PCI DSS Compliance Can Crossover to Help Businesses Adhere to GDPR

November 25, 2019
woman in white trench with red umbrella set against dark stormy skies

Taking Shelter From the Perfect Data Privacy Storm

November 21, 2019
Next Post
basketball on court

What Do Basketball Recruiting and Procurement Fraud Have in Common?

Free Downloads

OFAC whitepaper cover
Compliance Job Interview Q&A
Reputation Risk Management Research

RSS SEC Litigation News

  • John Special, Defendant, and Michael Murphy, Relief Defendant, John Kenneth Davidson December 12, 2019
    SEC Obtains $3 Million Settlement in Insider Trading Action
  • Palm Beach Atlantic Financial Group, LLC and William A. Smith December 11, 2019
    SEC Charges Florida Resident and His Corporate Entity for Fraudulent Securities Offerings
  • Nanotech Engineering, Inc., Michael James Sweaney (also known as Michael Hatton), David Sweaney, and Jeffery Gange December 11, 2019
    SEC Obtains Asset Freeze to Halt Alleged Offering Fraud

Jump to a Topic:

anti-corruption anti-money laundering/AML Artificial Intelligence/A.I. automation banks Big Data blockchain board of directors board risk oversight bribery CCPA/California Consumer Privacy Act Cloud Compliance communications management corporate culture corporate governance culture of ethics cyber risk data analytics data breach data governance decision-making Dodd-Frank DOJ due diligence fcpa enforcement actions GDPR GRC HIPAA information security internal audit internet of things (IoT) KYC/know your customer machine learning monitoring regtech reputation risk risk assessment Sanctions SEC social media risk technology third party risk management tone at the top training whistleblowing
No Result
View All Result

Privacy Policy

Follow Us

  • Facebook
  • Twitter
  • LinkedIn
  • RSS Feed

Category

  • Audit
  • Compliance
  • Compliance Podcasts
  • Cybersecurity
  • Data Privacy
  • eBooks
  • Ethics
  • FCPA
  • Featured
  • Financial Services
  • Fraud
  • Governance
  • HR Compliance
  • Leadership and Career
  • News
  • Opinion
  • Resource Library
  • Risk
  • Uncategorized
  • Videos
  • Webinars
  • Whitepapers

© 2019 Corporate Compliance Insights

No Result
View All Result
  • Home
  • About
  • Articles
  • News
  • Podcasts
  • Videos
  • Whitepapers
  • eBooks
  • Events
  • Jobs
  • Subscribe

© 2019 Corporate Compliance Insights