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Strict data protection regulations drafted by EU
Jan 30 2012, 16:14 PM
Strict data protection laws have been drafted by the EU to enforce 24-hour data breach disclosure.
EU justice commissioner Viviane Reding has confirmed that companies who suffer a data breach will have 24 hours to tell the relevant authorities in the event of a data breach. The new rulings are accompanied by strict compliance rulings, which suggest fines could reach five per cent of company turnover.
Companies are increasingly looking to adopt professional services for data strategy in order to meet regulations. Data quality solutions can also improve marketing techniques and business intelligence, representing a shift in marketing strategies. Organisations are now more 'customer-centric' than 'marketer-centric', a process that is enabled by increased business intelligence.
Ms Reding said: "Personal data is the currency of today’s digital market. And like any currency, it needs stability and trust. Only if consumers can ‘trust’ that their data is well protected, will they continue to entrust businesses and authorities with it, buy online, and accept new services."
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