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Data Protection -Risk Chat: 04 July 2016

Posted By IRMSAInsight, 04 July 2016

04 July 2016

 

DATA PROTECTION 

 

South African Bancassurance giants that have chosen UK prime listing will need to re-evaluate the UK’s propensity to abide by much stronger, precise and robust EU data protection laws after the Brexit vote. South Africans that have entrusted these companies with their personal data will need assurance that their digital privacy is guaranteed.

Numerous journals state that European data protection law is globally recognized as setting the highest standards of privacy and cybersecurity protection and the UK Government would be amiss not to fully comply. In order for South African companies to prosper outside of the UK, but within the EU, they have no option other than to adopt the European standard irrespective of what the UK government decides.

The Brexit vote has certainly raised critical questions not only pertaining to the security options for the protection of our personal data but also to the UK’s propensity to co-operate in combating cyber related crimes and incidents. It should be kept in mind that the UK will now enjoy the same status as any other country in the world to the Europol cyber-crime centre. Full unfettered access is now history.


Click here to read other related Articles: Five Big Data Trends That Will Impact South Africa In 2016   


Questions:

  • Have data privacy laws been embedded into your customer offering?
  • Are you aligned with data privacy regulations within the jurisdictions that your company operates in? 
  • Have you computed the financial implications of a potential data breach?
  • Is your cyber insurance tracking these dynamic cyber threats?

























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