June 30th, 2017.

A YouGov survey of more than 2,000 businesses has shown that only three in every ten businesses (29%) have started preparing for the new General Data Protection Regulation (GDPR) which will apply from the 25th of May 2018.

Despite a substantial rise in the fine for data breaches in the UK, and the fact that virtually all businesses will be affected, only 38 per cent admit to being aware of the rules. GDPR replaces existing data protection laws, and represents the biggest change in 25 years to how businesses process personal information.

Under the new rules, the maximum fine for certain data breaches in the UK will rise from £500,000 to €20m or 4 per cent of global turnover, whichever is larger.

Other changes include an obligation to be more transparent about how personal data is used, and for businesses to have processes in place in case an individual asks for all their personal data to be erased.

The survey found that 33 per cent of businesses think GDPR will have no impact; 22 per cent claim it isn’t relevant to their business as they are not consumer orientated; 26 per cent are certain that they would be able to detect a data breach within their organisation; and only 19 per cent view the new data protection rules as an opportunity.

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