There’s no question: Data today is increasing at an exponential rate, and with it, so are data protection laws worldwide.
Not only is data increasing, but it is changing — growing in variety and velocity. EMC Corp., which conducts data analysis, believes the world’s information is doubling every two years. It is also flowing in and out of organizations at an unprecedented pace, posing new challenges in data governance.
In 2013, global risk consulting firm Control Risks commissioned a survey on legal executives’ attitudes toward data protection. More than 300 general counsel, senior level corporate lawyers, and compliance heads worldwide responded.
Not surprisingly, as data protection laws continue to increase on a global scale, many corporate executives are placing them as a top concern, the survey showed.
The majority of respondents (67 percent) expected the increase in global data protection laws to have an impact on their business. Survey respondents said they are concerned that regulators and political bodies are becoming stricter in enforcing data protection laws and that they are worried their organizations may inadvertently violate one of the many different data protection laws that exist.