73% of Canadian and US firms haven’t prepared for GDPR

By zaymalz malz

A new report from DocsCorp named “The current state of GDPR Readiness” has revealed that only 27% of Canadian and US firms have begun to prepare for the new data handling requirements that will be implemented under the upcoming General Data Protection Regulation (GDPR).

Despite GDPR being a set of European regulations, the rules will apply to any firm globally that either employs European citizens, or conducts business with a European business or within Europe.

See also:

Those who do not comply to the regulations could be subject to a penalty fine of either 4% of global revenue or €20mn – whichever is the larger.

With the new regulations set to be implemented in May 2018, the lack of firms aware of the implications of GDPR is rather worrying. The report, “The current state of GDPR Readiness”, found that 54% of respondents were unaware of the approaching date of the GDPR compliance deadline.

Further, when asked to cite their top concern around GDPR, 55% of firms said it was leaking personal data – something that GDPR aims to prevent.


Featured Articles

Top 10 easiest countries in the world to do business

Business Chief takes a look at the top 10 places in the world to do business, according to TMF Group's Global Business Complexity Index (GBCI) for 2023

Patagonia Chair Charles Conn on becoming an imperfectionist

Entrepreneur and Patagonia Chair Charles Conn talks to Business Chief about rethinking strategy amid uncertainty, and why an imperfectionist approach works

Top 10 most valuable brands in the world – Amazon to TikTok

Business Chief takes a look at the top 10 most valuable brands in the world, according to Brand Finance, which puts 5,000 major companies to the test

Four priorities for new Twitter CEO Linda Yaccarino

Leadership & Strategy

Top 10 shifts transforming organisations – McKinsey & Co

Leadership & Strategy

Top 10 fastest-growing jobs in the world according to WEF

Technology & AI