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Mandatory requirement to report data breaches considered in EU data protection law changes

It is expected that businesses will need to introduce tighter data control measures, following proposals by the EU to bring in mandatory data breach reporting.

In June, the EU’s Justice Commissioner Viviane Reding said new data protection changes including mandatory notification of data breaches across all sectors would ensure that all businesses, including those in the financial sector, take data protection seriously. “Data breaches have eroded consumers’ trust and banks and businesses will need to take data protection much more seriously if they want to avoid future reputation damage,” she said.

Comment
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