COVID-19 Pandemic, New Technologies Have Companies Rethinking Their Approach to Privacy
TrustArc, the leader in privacy compliance and risk management, announced the results of its “Global Privacy Benchmark” survey on how organizations are protecting and leveraging data, their most valuable asset. One of the most extensive surveys ever conducted on data privacy, it polled more than 1,500 respondents from around the world at all levels of the organization. Survey results examined a wide range of topics, such as organizational commitment to privacy, the measures and investments companies are making to embed privacy, and company readiness for looming privacy regulations, such as CCPA and its July 1 enforcement date.
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“There are more than 900 global privacy laws to which organizations must adhere, making privacy management an ongoing and dynamic challenge,” said Chris Babel, CEO, TrustArc. “The TrustArc survey highlights just how difficult it can be to comply with even a single new regulation, such as CCPA, let alone the entire list of existing laws. The results also show how the COVID-19 pandemic and its attendant technologies, such as video conferencing, have exacerbated an already difficult privacy challenge and forced respondents to rethink their approaches.”
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CCPA Compliance Readiness Mostly Lacking; Prior GDPR Preparedness a Boost
Nearly one-third of survey respondents (29%) say they have just started planning for CCPA.
- More than 20% of respondents report they are either somewhat unlikely to be, very unlikely to be, or don’t know if they will be fully compliant with CCPA on July 1.
- Just 14% of respondents are done with CCPA compliance. Nine percent have not started with CCPA compliance, and 15% have a plan but have not started implementation.
- Of respondents who reported as being slightly or very knowledgeable about CCPA and GDPR regulations, 82% are leveraging at least some of the work they did for GDPR in implementing CCPA requirements.
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