Governance and legal compliance
You have three primary concerns for securing and governing your data:
- Proper collection and safeguarding of personal data.
- Internal governance of your own data.
- Complying with local laws and law enforcement in each jurisdiction in which you operate.
This last one can be a huge headache for multinationals, particularly in Europe, where the General Data Protection Regulation, effective May 2018, carries with it fines for violations of up to 4 per cent of global turnover or 20 million euros (whichever is larger). The EU will hold accountable even companies headquartered outside of Europe if they collect or process data of sufficient numbers of EU residents.
Regardless of legal risk, you risk reputational ...