Earlier this year, the European Union’s General Data Protection Regulation (GDPR) went into effect, placing new obligations on companies and organizations that are doing business in the EU, or with European citizens. North Americans are becoming used to privacy breach notification requirements from government, including PIPEDA, CASL, and soon the Digital Privacy Act here in Canada, but GDPR extends well beyond any regulatory measures in place on this side of the Atlantic. It also requires that users have the ability to access, edit, and delete their private information, restricting how companies gather and store data.
The news is peppered with stories about cyberattacks on large corporations and even large municipalities like Atlanta. These stories make it clear that although the digital age has made it easier than ever to transact business, it also comes with a new set of threats that businesses should prepare for.
When you hear about cyber attacks and "data breaches, many people think of a rogue hacker infiltrating a computer system to steal people's information.
On the World Economic Forum’s (WEF) list of things businesses around the world should be on the lookout for this year, cyberattacks took third place, following natural disasters at number two, and extreme weather events at the top.
Cyber threats top the list of worries from corporate leaders
Corporate optimism about short term prospects rose to record heights this year, according to PwC’s annual CEO survey.
While cyberattacks on large corporations are becoming ever more common in the news, smaller and medium sized businesses are equally at risk, and are generally less aware of the danger.