Businesses Warned They’ll Need to Adhere to GDPR Regardless of Brexit

70% of enterprise owners believe the new EU-wide regulation won’t make consumer data any safer

Businesses Warned They’ll Need to Adhere to GDPR Regardless of Brexit

UK businesses are being warned they still need to adhere to the new General Data Protection Regulation (GDPR), despite the fact the UK is set to leave the European Union.

According to a survey by Webroot, there is a strong level of misunderstanding among small business owners as to whether the EU-wide legislation, which covers how large businesses hold and store consumer data, will hold any weight in a post-Brexit Britain.

Indeed, 43% of businesses admitted they were uncertain whether or not they would have to remain compliant to GDPR after Brexit – with 6% adamant they wouldn’t.

Coming into effect on 25 May 2018, the new legislation will, among other things, require firms with more than 250 staff members to hire a data protection officer.

However, firms that hold the data of EU citizens will still be expected to comply, with offending businesses facing fines of fines up to €20m or 4% of global annual turnover.

To compound the uncertainty, it appears that even if businesses are well-informed – they aren’t well prepared, as 20% of companies haven’t started the compliance process with a further 71% yet to properly budget for the extra resources needed.

One year on from the EU referendum, a degree of cynicism regarding the legislation also appears to exist with 70% of enterprise owners believing the new EU-backed regulation won’t make consumer data any safer.

Adam Nash, business sales leader for EMEA, said Webroot:

“GDPR compliance should be a crucial part of every organization’s security strategy. In particular, it’s clear that small businesses urgently need to focus their attention on both GDPR compliance and their wider cybersecurity posture. We recommend that all businesses adopt a multi-layered security approach to meet GDPR; one that includes network security, antivirus protection, and thorough data protection measures.”

Worried about General Data Protection Regulation? Click here and read our guide on how to prepare.

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