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New System “To Help Companies Meet Data Breach Regulations”

13-Jun-2016
New System “To Help Companies Meet Data Breach Regulations”
The EU General Data Protection Regulation (GDPR) has officially become law, giving organisations two years to become compliant or risk fines of up to 4% of global turnover if they suffer from a data breach. Recent research by DQM GRC, in association with DataIQ, argued that implementing these processes will be difficult for nearly one in five organisations (18.4%), who admitted they will require 12-24 months to make the required changes – cutting the GDPR deadline quite finely.

To help organisations prepare for this new legislation, DQM GRC has launched its GDPR RADAR™, which it says is a unique data protection assessment that will score an organisation’s current fitness against the new regulation, understand where it has to improve and set a bespoke programme to get the organisation to where it needs to be.

The makers claim that the GDPR RADAR™ is the first and most efficient way of understanding an organisation’s fitness level and fixing its data protection compliance, data privacy and data security risks. They say it will enable an organisation to:

Assess its data protection position against new EU legislation
The GDPR RADAR™’s fast gap analysis provides a report which clearly highlights an organisation’s strongest and weakest areas for data security and data protection against the new EU Legislation (GDPR). This might include not having a data breach notification plan, not having the right consent for marketing, or exposure from non-compliant 3rd party data processors.

Avoid becoming the next data disaster headline – and escape heavy fines
The customer’s data will be significantly less vulnerable to attack, theft or loss, which means the risk of fines and reputational damage from a data breach will be substantially reduced. Organisations can be sure that they have the correct marketing permissions and an audit trail for all forms of communication.

Devise a remedy action plan
The GDPR RADAR™’s recommendations and action plan prioritises the high risk areas in an organisation, and can provide template solutions to ensure an organisation reaches compliance. Once remedies are in place, companies can work towards gaining standards such as ISO27001, Cyber Essentials, DataSeal, Fair Data, and Privacy Seal – which can all help with winning major tenders.

Reduce cyber insurance premiums
Companies who have undergone a DQM GRC GDPR Data Risk Assessment can benefit from discounts of up to 25% on their cyber insurance from QBE Insurance to cover issues if they arise, such as crisis management, damage to underlying systems from virus injections and notification and fine costs.