UK and US multinationals overconfident about own GDPR readiness UK and US multinationals overconfident about own GDPR readiness

UK and US multinationals overconfident about own GDPR readiness
29 Jan 2018

Although more than 90% of the largest US and UK companies claim they are ready for the European Union’s General Data Protection Regulation (GDPR), the vast majority are seriously overestimating their own preparedness, a study has found.

A survey by law firm Paul Hastings  of general counsels and chief security officers in the FTSE 350 and Fortune 500 revealed that only 39% of UK and 47% of US firms are setting up an internal GDPR task force.

A third of organisations across both regions are hiring a third party to conduct a GDPR gap analysis and, in the UK, the same proportion have taken on a third-party consultant or counsel to assist with compliance. The figure is slightly higher in the US at 37%.

Although appointing a data protection officer is a key requirement for GDPR readiness, only 29% of UK enterprises have hired one. The figure falls to 18% among US firms.

Despite this situation, 94% of FTSE 350 companies claim to be ready for the GDPR, with the number jumping to 98% on the Fortune list.

 

Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.

 

Although more than 90% of the largest US and UK companies claim they are ready for the European Union’s General Data Protection Regulation (GDPR), the vast majority are seriously overestimating their own preparedness, a study has found.

A survey by law firm Paul Hastings  of general counsels and chief security officers in the FTSE 350 and Fortune 500 revealed that only 39% of UK and 47% of US firms are setting up an internal GDPR task force.

A third of organisations across both regions are hiring a third party to conduct a GDPR gap analysis and, in the UK, the same proportion have taken on a third-party consultant or counsel to assist with compliance. The figure is slightly higher in the US at 37%.

Although appointing a data protection officer is a key requirement for GDPR readiness, only 29% of UK enterprises have hired one. The figure falls to 18% among US firms.

Despite this situation, 94% of FTSE 350 companies claim to be ready for the GDPR, with the number jumping to 98% on the Fortune list.

 

Emma Woollacott is a freelance business journalist. Her work has appeared in a wide range of publications, including the Guardian, the Times, Forbes and the BBC.