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.

Risk //

Compliance

5/31/2019
01:45 PM
Connect Directly
Twitter
Twitter
RSS
E-Mail

GDPRs First-Year Impact By the Numbers

The latest statistics on GDPR spending, compliance rates, enforcement and consumer attitudes on privacy protection.
2 of 7

Enterprise Budgets Swell
One thing is certain, and it's that enterprises are funneling a lot of cash toward continued GDPR compliance efforts. Forbes reporting went so far as to call GDPR a '$9 billion business shakedown,' with industry sources such as IAPP and EY also reporting the average spend per organization reaching about $3 million, with half of that coming this year and beyond. The spending was spread out among a range of categories, including internal people-hours, outside legal counsel, consulting, employee training, and new technology.
Many experts expect the long-term budgetary impacts of sustained GDPR compliance to linger. The sustained spending will be particularly heavy in US companies that may not have had instituted certain privacy practices commonplace at European firms even prior to GDPR. According to IDC's Ryan O' Leary, the 'maximum impact' - spending on GDPR initiatives - in the US is actually expected in 2020. Meanwhile, another survey conducted by Thomson Reuters at the end of last year found about 38% of compliance budgets were dedicated to GDPR.

Image: IAPP and EY

Enterprise Budgets Swell

One thing is certain, and it's that enterprises are funneling a lot of cash toward continued GDPR compliance efforts. Forbes reporting went so far as to call GDPR a "$9 billion business shakedown," with industry sources such as IAPP and EY also reporting the average spend per organization reaching about $3 million, with half of that coming this year and beyond. The spending was spread out among a range of categories, including internal people-hours, outside legal counsel, consulting, employee training, and new technology.

Many experts expect the long-term budgetary impacts of sustained GDPR compliance to linger. The sustained spending will be particularly heavy in US companies that may not have had instituted certain privacy practices commonplace at European firms even prior to GDPR. According to IDC's Ryan O' Leary, the "maximum impact" spending on GDPR initiatives in the US is actually expected in 2020. Meanwhile, another survey conducted by Thomson Reuters at the end of last year found about 38% of compliance budgets were dedicated to GDPR.

Image: IAPP and EY

2 of 7
Comment  | 
Print  | 
Comments
Newest First  |  Oldest First  |  Threaded View
RyanSepe
50%
50%
RyanSepe,
User Rank: Ninja
5/31/2019 | 3:08:59 PM
point of contention
I can understand the skepticism of EU citizens. If I were in that category what I would love to see is a holistic listing of all companies that deal with EU citizen data. Of those companies, what are they bound to from a compliance standpoint. Essentially if you create this as a high level diagram a citizen could truncate it down to businesses of interest and ensure that they are inline with consumer expectations.
7 Truths About BEC Scams
Ericka Chickowski, Contributing Writer,  6/13/2019
DNS Firewalls Could Prevent Billions in Losses to Cybercrime
Curtis Franklin Jr., Senior Editor at Dark Reading,  6/13/2019
Can Your Patching Strategy Keep Up with the Demands of Open Source?
Tim Mackey, Principal Security Strategist, CyRC, at Synopsys,  6/18/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
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
New Best Practices for Secure App Development
New Best Practices for Secure App Development
The transition from DevOps to SecDevOps is combining with the move toward cloud computing to create new challenges - and new opportunities - for the information security team. Download this report, to learn about the new best practices for secure application development.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2018-9561
PUBLISHED: 2019-06-19
In llcp_util_parse_connect of llcp_util.cc, there is a possible out-of-bound read due to a missing bounds check. This could lead to local information disclosure with no additional execution privileges needed. User interaction is needed for exploitation.Product: AndroidVersions: Android-7.0 Android-7...
CVE-2018-9563
PUBLISHED: 2019-06-19
In llcp_util_parse_cc of llcp_util.cc, there is a possible out-of-bound read due to a missing bounds check. This could lead to local information disclosure with no additional execution privileges needed. User interaction is needed for exploitation.Product: AndroidVersions: Android-7.0 Android-7.1.1 ...
CVE-2018-9564
PUBLISHED: 2019-06-19
In llcp_util_parse_link_params of llcp_util.cc, there is a possible out-of-bound read due to a missing bounds check. This could lead to local information disclosure with no additional execution privileges needed. User interaction is needed for exploitation.Product: AndroidVersions: Android-7.0 Andro...
CVE-2019-2003
PUBLISHED: 2019-06-19
In addLinks of Linkify.java, there is a possible phishing vector due to an unusual root cause. This could lead to remote code execution or misdirection of clicks with no additional execution privileges needed. User interaction is needed for exploitation.Product: AndroidVersions: Android-7.0 Android-...
CVE-2019-2017
PUBLISHED: 2019-06-19
In rw_t2t_handle_tlv_detect_rsp of rw_t2t_ndef.cc, there is a possible out-of-bound write due to a missing bounds check. This could lead to local escalation of privilege with no additional execution privileges needed. User interaction is needed for exploitation.Product: AndroidVersions: Android-7.0 ...