New European regulations on data security should not be viewed as a compliance exercise but as a push towards best practice, according to both regulators and industry insiders.
The high potential fines associated with the General Data Protection Regulation (GDPR) — up to 4 percent of global turnover or €20m, whichever is higher, for a breach — have caused concern among companies as they strive to meet the May 25 deadline.
However, some believe regulators will likely be looking to see that companies are complying with the spirit of the regulation rather than viewing the new measures as a box-ticking exercise — although suggested this fact could be made clearer.
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