New
McAfee Report Highlights Global Impact of Changing Data Protection Landscape
McAfee Report Highlights Global Impact of Changing Data Protection Landscape
Seventy Percent of Business Decision-Makers
Say GDPR will Make the European Union
Say GDPR will Make the European Union
the World Leader in Data Protection
NEWS
HIGHLIGHTS
HIGHLIGHTS
· Data
protection delivers commercial advantage with seventy-four percent of
respondents believing organizations that properly apply data protection laws
will attract new customers
protection delivers commercial advantage with seventy-four percent of
respondents believing organizations that properly apply data protection laws
will attract new customers
· Nearly
half (48 percent) of organizations say they will migrate data as a result of
regulation or changing government policies.
half (48 percent) of organizations say they will migrate data as a result of
regulation or changing government policies.
· Currently,
it takes 11 days on average to report a breach. GDPR will mandate breach
notifications be made within 72
hours.
it takes 11 days on average to report a breach. GDPR will mandate breach
notifications be made within 72
hours.
Singapore, October 5, 2017 – McAfee,
one of the world’s leading cybersecurity companies, today released a new
report, Do you know where your data is? Beyond GDPR: Data
residency insights from around the world, which highlights businesses’
approach to data residency, management, and protection in light of global
events, policies and the changing regulatory data protection landscape.
one of the world’s leading cybersecurity companies, today released a new
report, Do you know where your data is? Beyond GDPR: Data
residency insights from around the world, which highlights businesses’
approach to data residency, management, and protection in light of global
events, policies and the changing regulatory data protection landscape.
Based on a survey of 800 senior business decision-makers from
across multiple industry sectors and eight countries, the report provides a
comprehensive view of how organizations view 11 key data regulations from
around the world, including the E.U. General Data Protection Regulation (GDPR),
which will toughen and simplify laws protecting personal data for over 500
million people residing in the European Union once implemented in May 2018.
across multiple industry sectors and eight countries, the report provides a
comprehensive view of how organizations view 11 key data regulations from
around the world, including the E.U. General Data Protection Regulation (GDPR),
which will toughen and simplify laws protecting personal data for over 500
million people residing in the European Union once implemented in May 2018.
The report shows that nearly half (48 percent) of organizations
will migrate their data to a new location because of regulations like GDPR. A
similar amount will migrate their data because of changing geopolitics or the approach
to relevant policies in the United States. Seventy percent of respondents
believe the implementation of GDPR will make Europe a world leader in data
protection; however, the United States remains the most popular data storage
destination, preferred by nearly half of all organizations surveyed.
will migrate their data to a new location because of regulations like GDPR. A
similar amount will migrate their data because of changing geopolitics or the approach
to relevant policies in the United States. Seventy percent of respondents
believe the implementation of GDPR will make Europe a world leader in data
protection; however, the United States remains the most popular data storage
destination, preferred by nearly half of all organizations surveyed.
“It’s critical that businesses do everything they can to protect
one of the world’s most valuable assets: data,” said Raj Samani, Chief
Scientist and Fellow at McAfee. “The good news is that businesses are finding
that stricter data protection regulations benefit both consumers and their
bottom line. However, many have short-term barriers to overcome to become
compliant, for example, to reduce the time it takes to report a breach.”
one of the world’s most valuable assets: data,” said Raj Samani, Chief
Scientist and Fellow at McAfee. “The good news is that businesses are finding
that stricter data protection regulations benefit both consumers and their
bottom line. However, many have short-term barriers to overcome to become
compliant, for example, to reduce the time it takes to report a breach.”
Some key findings from the report include the following:
· Privacy
sells: Data protection delivers commercial advantage. Seventy-four
percent of respondents believe organizations that properly apply data
protection laws will attract new customers.
sells: Data protection delivers commercial advantage. Seventy-four
percent of respondents believe organizations that properly apply data
protection laws will attract new customers.
· Regulations
and policies present barriers to technology acquisition and investment: Approximately
two-thirds of respondents say that GDPR (66 percent), U.S. policies (63
percent) and Brexit (63 percent) either already have or will impact their
organization’s technology acquisition investments, while approximately 20
percent don’t yet know how these issues will impact their spending. More
specifically, 51 percent of all respondents say their organization is being
held back from technology investment because of external data protection
regulations.
and policies present barriers to technology acquisition and investment: Approximately
two-thirds of respondents say that GDPR (66 percent), U.S. policies (63
percent) and Brexit (63 percent) either already have or will impact their
organization’s technology acquisition investments, while approximately 20
percent don’t yet know how these issues will impact their spending. More
specifically, 51 percent of all respondents say their organization is being
held back from technology investment because of external data protection
regulations.
· Public
opinion key to data decision-making. Eighty-three percent of
organizations take public sentiment towards data privacy into account when
making data residency decisions.
opinion key to data decision-making. Eighty-three percent of
organizations take public sentiment towards data privacy into account when
making data residency decisions.
· Organizations
take 11 days on average to report a breach.
take 11 days on average to report a breach.
· Organizations
put faith in cloud service providers. Eight in 10 respondents
organizations are planning, at least in part, to leverage their cloud service
provider to help achieve data protection compliance.
put faith in cloud service providers. Eight in 10 respondents
organizations are planning, at least in part, to leverage their cloud service
provider to help achieve data protection compliance.
· Most
organizations are ‘unsure’ of where their data is stored. Only
forty-seven percent of organizations know where their data is stored at all
times. The majority are unsure, at least some of the time.
organizations are ‘unsure’ of where their data is stored. Only
forty-seven percent of organizations know where their data is stored at all
times. The majority are unsure, at least some of the time.
· Only two
percent of management really understand the laws that apply to their
organizations. While a majority of respondents (54 percent) believe
their organization has a “complete understanding” of the data protection
regulations that apply to them, just two percent of senior decision-makers know
all the clauses of regulations that apply to their organizations.
percent of management really understand the laws that apply to their
organizations. While a majority of respondents (54 percent) believe
their organization has a “complete understanding” of the data protection
regulations that apply to them, just two percent of senior decision-makers know
all the clauses of regulations that apply to their organizations.
Overall, the report reveals conflicting beliefs about data
protection regulations. While global events and a tightening of data protection
rules gives senior decision-makers pause when determining their company’s
technology investment, most organizations look to store their data in those
countries with the most stringent data protection policies. Clearly, there is
recognition that, while businesses might not like strict compliance laws, they
are beneficial to both customers and a company’s bottom line, even providing a
competitive advantage in some cases. Moving forward, increased awareness and
understanding about a company’s data assets will lead to better usage and
protection.
protection regulations. While global events and a tightening of data protection
rules gives senior decision-makers pause when determining their company’s
technology investment, most organizations look to store their data in those
countries with the most stringent data protection policies. Clearly, there is
recognition that, while businesses might not like strict compliance laws, they
are beneficial to both customers and a company’s bottom line, even providing a
competitive advantage in some cases. Moving forward, increased awareness and
understanding about a company’s data assets will lead to better usage and
protection.
For more information about today’s data protection landscape and
to view the full report, visit: http://bit.ly/2wiOp6N
to view the full report, visit: http://bit.ly/2wiOp6N
Methodology
McAfee commissioned independent technology market
research specialist Vanson Bourne to undertake the research upon which this
report is based. The findings are based on the responses from 800 senior
business decision-makers from across eight countries at companies ranging in
size from 500 employees to more than 5,000 across a range of industry sectors,
including financial services, private healthcare and the public sector. The
survey targeted respondents with a range of business functions, from IT
professionals to client services, HR, and engineering. Countries represented by
respondents include Australia, Brazil, France, Germany, Japan, Singapore,
United Kingdom and United States.
research specialist Vanson Bourne to undertake the research upon which this
report is based. The findings are based on the responses from 800 senior
business decision-makers from across eight countries at companies ranging in
size from 500 employees to more than 5,000 across a range of industry sectors,
including financial services, private healthcare and the public sector. The
survey targeted respondents with a range of business functions, from IT
professionals to client services, HR, and engineering. Countries represented by
respondents include Australia, Brazil, France, Germany, Japan, Singapore,
United Kingdom and United States.
About McAfee
McAfee is one
of the world’s leading independent cybersecurity companies. Inspired by the
power of working together, McAfee creates business and consumer solutions that
make the world a safer place.
of the world’s leading independent cybersecurity companies. Inspired by the
power of working together, McAfee creates business and consumer solutions that
make the world a safer place.
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