UK publication Digitalisation World recently tapped various industry experts for their takes on the impact of GDPR one year on. Cindy Provin, SVP of Entrust Datacard General Manager at nCipher Security, was asked to share her views:
Since the GDPR came into force, we’ve seen a variety of breaches and fines occur, ranging from large, established organisations such as Google, Facebook, Uber and Marriott, to smaller organisations. With over 200,000 cases reported across Europe, the introduction of the GDPR has shown us that no organisation using the personal data of EU citizens can avoid compliance and accountability.
Before it took effect, much of the GDPR-related focus was placed on the potential fines and penalties associated with data breaches and a lack of compliance. The reality is that this regulation – as well as future data protection laws – should be seen as a positive step in the battle to prevent data misuse. These regulations are not designed to discourage the use of data, but to provide consumers with reassurance that their personal information is in safe hands. They also encourage businesses to follow best practice when it comes to control and governance, two traits that cannot be overlooked in today’s modern cyber landscape.
The future of data protection means a commitment to accountability. If organisations wish to use data to gain a competitive edge, they must be prepared to take responsibility for its use and protection. It also means a commitment to transparency. Transparency in telling customers how their data is being collected and used and transparency when it comes to disclosing the scale and affected parties if a data breach does occur.
The GDPR marks a new era in the way that businesses think about data. And it’s about time. After all, we now live in a digital economy and data is any business’s most important asset, regardless of size or sector.