Nearly half (48 percent) of organisations will migrate their data to a new location because of regulations like the EU-wide General Data Protection Regulation (GDPR). A similar amount will migrate their data because of changing geopolitics or the approach to relevant policies in the United States, according to a report, Do you know where your data is? Beyond GDPR: Data residency insights from around the world, by the cyber-security product company McAfee.
Most, 70 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.
Raj Samani, pictured, Chief Scientist and Fellow at McAfee said: “It’s critical that businesses do everything they can to protect one of the world’s most valuable assets: data. 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.”
The cyber firm surveyed 800 senior business decision-makers from across multiple industry sectors and eight countries. Among the findings, organisations take 11 days on average to report a breach. Organisations put faith in cloud service providers; eight in ten respondents organizations are planning, at least in part, to leverage their cloud service provider to help achieve data protection compliance. Most are ‘unsure’ of where their data is stored. Only forty-seven percent of organisations 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 organisations. 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 them.
To view the full report, visit: http://bit.ly/2wiOp6N.
