It is about time that action was being taken in light of the breaches over the last year.
Recent attacks in Europe, including JP Morgan and eCar Insurance, highlight how it is becoming increasingly important to have the right breach notification laws in place.
Posted by Ben Rossi on 25 November 2014 "Over the last six months, we have seen an increasing number of high-profile data breaches. As this continues, public awareness of the issue has grown immensely and sentiment towards companies that suffer data breaches has become negative.
To combat the rise in data breaches, the EU will be announcing a new piece of legislation later this year. This legislation will make it easier for both countries and businesses within the EU to follow one standard data protection law, instead of 28 individual ones.
Many current data protection laws, including those in the UK are out of date and need to be refreshed so this is a step forward in helping breach reporting become mandatory. This legislation has not come at a better time.
The legislation will affect all organisations that process over 5,000 pieces of EU citizen data a year. According to the EU, EU citizen data was worth an estimated €315 billion to organisations in 2011 and has the potential to grow to nearly one trillion Euros in 2020. As a result, data has never been more important."
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Why reporting security breaches should become mandatory
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