Europe’s Regulators unprepared to protect privacy
Saturday, 05 12 2018, Category: Insurance and Reinsurance, Country: Europe
Europe’s General Data Protection Regulation (GDPR) has been billed as the biggest shake-up of data privacy laws since the birth of the web.
There’s one problem: many of the regulators who will police it say they aren’t ready yet.
The pan-EU law comes into effect this month and will cover companies that collect large amounts of customer data including Facebook and Google. It won’t be overseen by a single authority but instead by a patchwork of national and regional watchdogs across the 28-nation bloc.
Seventeen of 24 authorities who responded to a Reuters survey said they did not yet have the necessary funding, or would initially lack the powers, to fulfill their GDPR duties.
Source: Insurance Journal