Delphi highlights the concerns for EU data privacy over Cloud services – 4% of total revenue in penalties!
The issue of data security and integrity has been a hot topic for some time but the introduction of the EU General Data Protection regulation takes this to whole new level! Caroline Sundberg and Johan Hubner of Advokat Dephi, shared their experiences and words of warning with James Gareh, CEO of Insight Events:
The maximum fine for data breaches so far in Sweden has been 50k SEK (£5000). The new regulation will expose ALL organisations to up to 4% of their revenues in penalties for non-compliance! The regulations come into force in May 2018 leaving a significant challenge towards compliance which needs to start now. This is especially the case for those organisations who take advantage of the power and flexibility of Cloud infrastructure.
Compliance will mean that companies need to know where their data is, what it is being used for, If there have been any breaches and many other issues. This may have a significant impact as to the overall strategic direction of cloud solutions. What will be the future of massive global cloud networks where data may be processed anywhere on the globe? Johan suggests that the future may be more aligned to local and regional cloud solutions – uphill struggle for the large cloud providers?
The responsibility for data lies with the organisations who own the data and they cannot any longer, ignore their responsibilities and liabilities for this. Does this impact their decision to move to cloud solutions?
Caroline and Johan will discuss these issues and others with the audience at the Cloud Conference in Stockholm September 7th (www.cloudstrategies.se).