Dark Reading is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them.Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Cloud

10/4/2018
10:30 AM
Chris Babel
Chris Babel
Commentary
Connect Directly
LinkedIn
RSS
E-Mail vvv
50%
50%

GDPR Report Card: Some Early Gains but More Work Ahead

US companies paid the most, to date, to meet the EU's General Data Protection Regulation, according to a recent study, but UK companies made greater progress in achieving compliance goals.

The May 25 deadline to comply with the European Union's new General Data Protection Regulation (GDPR) has come and gone, and the question on many security and privacy professionals' minds is: How did we do? In June 2018, Dimensional Research conducted a new survey, following on the heels of a 2017 study of 200 privacy professionals, this time with 600 IT and privacy professionals in the US, UK, and EU (non-UK), to get some answers.

As it turns out, US and UK companies made some compliance gains in the 10 months that passed between the two surveys, but not nearly enough to make it to the finish line at scale. When it came down to the wire, UK companies made greater progress than US companies; US companies went from 4% fully compliant in 2017 to 12% compliant in 2018, while UK companies went from 3% fully compliant in 2017 to 21% compliant in 2018. The 2018 survey report sheds light on several interesting aspects of GDPR compliance, including the main drivers to comply, budget spending, challenges, and a glimpse of what post-deadline life entails. Let's take a look.

Compliance Efforts Were Fueled by Meeting Customer Expectations
Although much was made in the public debate about the potentially large fines that could be issued against companies that did not achieve compliance, respondents were motivated more by a desire to meet customer and partner expectations than by fear of fines or lawsuits. In fact, meeting customer expectations was the top motivator for all companies, regardless of the level of regulations in their market. EU companies reported that their compliance efforts were also motivated by internal company values.

Primary reasons for investing in GDPR compliance, by region, were:

  • Meet customer expectations: US 59%, UK 58%, EU 54%.
  • Support company values: US 48%, UK 47%, EU 52%.
  • Fear of fines or class action lawsuits: US 41%, UK 38%, EU 39%.

US Companies Paid the Most to Comply with GDPR
In the 2017 survey, 83% of the US privacy professionals surveyed expected GDPR spending to be at least $100,000, compared with 69% of UK companies that expected to spend the same amount. In reality, based on the 2018 survey, 68% of respondents across regions reported spending more than six figures on GDPR compliance. US respondents had significantly higher GDPR budgets, with many spending in the millions.

  • 25% of US companies spent over $1 million, compared with10% UK and 7% EU.
  • 10% of US companies spent over $2.5 million, compared with 2% UK and 3% EU.
  • Across all regions, a larger percentage of companies that are not in highly regulated industries plan to spend over $1 million more by the end of 2018 (15%) than companies that are highly regulated (12%).

A Majority Are Positive about GDPR's Impact on Business
Despite the large GDPR budgets, most companies surveyed (65%) say that the GDPR journey was worth it and have a positive view about its impact on their business. Overall, only 15% report that GDPR's impact would be negative, and 20% didn't see it having an impact either positively or negatively. Larger companies with over 10,000 employees are more skeptical of GDPR, with only 51% reporting a positive perception of it. More than half (54%) of companies in highly regulated industries had a positive perception versus 68% for companies not in highly regulated markets.

I mentioned earlier that 12% of US companies considered themselves fully compliant. Yes, that is not a very high number, but by the end of 2018, 74% of respondents expect to be compliant and nearly all respondents by the end of 2019 (at 93%). What does all this tell us? The numbers show that companies have devoted an immense amount of effort and expense to meet the GDPR deadline, but there is a lot of work yet to be done to achieve full GDPR compliance, specifically in areas of monitoring, maintaining, and demonstrating ongoing compliance in a repeatable and efficient manner. The good news is that companies realize that the effort and expense will have a positive effect on their businesses and process was well worth the investment.

Related Content:

 

Black Hat Europe returns to London Dec. 3-6, 2018, with hands-on technical Trainings, cutting-edge Briefings, Arsenal open-source tool demonstrations, top-tier security solutions, and service providers in the Business Hall. Click for information on the conference and to register.

As CEO of TrustArc, formerly known as TRUSTe, Chris has led the company through significant growth and transformation into a leading global privacy compliance and risk management company. Before joining TrustArc, Chris spent over a decade building online trust, most recently ... View Full Bio
Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Why AI Will Create Far More Jobs Than It Replaces
John DiLullo, CEO, Lastline,  5/14/2019
Baltimore Ransomware Attack Takes Strange Twist
Kelly Jackson Higgins, Executive Editor at Dark Reading,  5/14/2019
Windows 10 Migration: Getting It Right
Kevin Alexandra, Principal Solutions Engineer at BeyondTrust,  5/15/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
Building and Managing an IT Security Operations Program
As cyber threats grow, many organizations are building security operations centers (SOCs) to improve their defenses. In this Tech Digest you will learn tips on how to get the most out of a SOC in your organization - and what to do if you can't afford to build one.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2019-11809
PUBLISHED: 2019-05-20
An issue was discovered in Joomla! before 3.9.6. The debug views of com_users do not properly escape user supplied data, which leads to a potential XSS attack vector.
CVE-2019-12198
PUBLISHED: 2019-05-20
In GoHttp through 2017-07-25, there is a stack-based buffer over-read via a long User-Agent header.
CVE-2019-12185
PUBLISHED: 2019-05-20
eLabFTW 1.8.5 is vulnerable to arbitrary file uploads via the /app/controllers/EntityController.php component. This may result in remote command execution. An attacker can use a user account to fully compromise the system using a POST request. This will allow for PHP files to be written to the web r...
CVE-2019-12184
PUBLISHED: 2019-05-19
There is XSS in browser/components/MarkdownPreview.js in BoostIO Boostnote 0.11.15 via a label named flowchart, sequence, gallery, or chart, as demonstrated by a crafted SRC attribute of an IFRAME element, a different vulnerability than CVE-2019-12136.
CVE-2019-12173
PUBLISHED: 2019-05-18
MacDown 0.7.1 (870) allows remote code execution via a file:\\\ URI, with a .app pathname, in the HREF attribute of an A element. This is different from CVE-2019-12138.