Wednesday, January 20, 2021
  • Chinese Startup’s Open Database Exposes 214 Million Social Media Accounts
  • Building a Security-First Culture
  • CursedGrabber strikes again: Sonatype spots new malware campaign against Software Supply Chains
  • Retail and Hospitality Outpaces Other Sectors in Fixing Software Security Vulnerabilities, According to Veracode
  • Axis Security Named 2021 TAG Cyber Distinguished Vendor

Security Boulevard

The Home of the Security Bloggers Network

Community Chats Webinars Library
  • Home
    • Cybersecurity News
    • Features
    • Industry Spotlight
    • News Releases
  • Security Bloggers Network
    • Latest Posts
    • Contributors
    • Syndicate Your Blog
    • Write for Security Boulevard
  • Webinars
    • Upcoming
    • On-Demand
  • Chat
    • Security Boulevard Chat
    • Marketing InSecurity Podcast
  • Library
  • Related Sites
    • MediaOps Inc.
    • DevOps.com
    • Container Journal
    • Digital Anarchist
    • SweetCode.io
  • Media Kit

  • Analytics
  • AppSec
  • CISO
  • Cloud
  • DevOps
  • GRC
  • Identity
  • Incident Response
  • IoT / ICS
  • Threats / Breaches
  • More
    • Blockchain / Digital Currencies
    • Careers
    • Cyberlaw
    • Mobile
    • Social Engineering
  • Humor
Governance, Risk & Compliance SBN News Security Bloggers Network 

Home » Cybersecurity » Governance, Risk & Compliance » Survey Finds Most Financial Firms Unprepared for Looming GDPR Deadline

Survey Finds Most Financial Firms Unprepared for Looming GDPR Deadline

by Maritza Santillan on May 10, 2018

With only a few weeks until the European Union’s General Data Protection Regulation (GDPR) goes into effect, many businesses are finding themselves at risk of missing the deadline and facing hefty fines.

According to a recent study conducted by Cordium and AmberGate, more than 50 percent of investment firms globally are unlikely to be ready in advance of the regulation’s implementation date – May 25, 2018.

The study, which polled over 250 financial firms, revealed a striking lack of preparedness across the financial marketplace, with just 2 percent of surveyed firms stating they had implemented GDPR policies and procedures.

Furthermore, 59 percent of firms said they were unprepared to comply with the required 72-hour window to report a personal breach to regulators; and 64 percent said they were unprepared to respond to an exercise of data subject rights.

Source: GDPR Benchmark Report – Cordium, AmberGate

For companies who have not yet started their GDPR program – or are still in the early stages – missing the deadline could expose them to “significant compliance and reputational risk,” warned Michael Corcione, Managing Director, Cybersecurity and Data Protection Consulting Services at Cordium, in a press release.

“Lack of readiness is due to a failure by firms to understand their exposure to the regulation, as well as MiFID II’s earlier deadline, leaving GDPR to fall down the priority list. With just a [two-week] window, firms should be practicing these procedures, not defining them,” said Corcione.

When asked which area generated the most pressure to comply with GDPR at the moment, most respondents (45 percent) said it came from their own internal governance functions. Regulatory pressures followed closely at 39 percent, while 15 percent of respondents cited investors and customers as the source of the most pressure.

Source: GDPR Benchmark Report – Cordium, AmberGate

(Read more...)

*** This is a Security Bloggers Network syndicated blog from The State of Security authored by Maritza Santillan. Read the original post at: https://www.tripwire.com/state-of-security/latest-security-news/survey-finds-most-financial-firms-unprepared-for-looming-gdpr-deadline/

May 10, 2018May 10, 2018 Maritza Santillan GDPR, Latest Security News
  • ← Zero-day flaw exploited in targeted attacks is fixed by Microsoft
  • Encryption Is Only as Strong as Your Password →

TechStrong TV – Live

Watch latest episodes and shows
Featured Blog

Eric Kedrosky

The Future of Multi-Cloud Security: A Look Ahead at Intelligent Cloud Security Posture Management Solutions

Pam Sornson, JD – Contributed Writer

IAM Best Practices For DevOps

Eric Kedrosky

Identity Risk: Identifying a Misconfigured IAM Trust Policy

Subscribe to our Newsletters

Get breaking news, free eBooks and upcoming events delivered to your inbox.
  • View Security Boulevard Privacy Policy

Most Read on the Boulevard

Hackers Calling Fair Game on Healthcare Institutions
Managing Identities and Entitlements to Secure the Public Cloud 
Capitol Rioters ID’ed With Help From Dating Apps
Is MDR Cybersecurity Training an Oxymoron?
Bringing Source Code Security Up to Speed
Unemployment Benefits Claims Fraud: New Threats for 2021
Malware protection is easy – Malinformation protection is hard
Pcaps and the Tools That Love Them Part 1 of ???
DEF CON 28 Safe Mode IoT Village – Dr. Amit Bar On’s And Anahit Tarkhanyan’s ‘Future Of IoT Sec Baselines’
The Doritos Conspiracy

Upcoming Webinars

Wed 20

Vulnerability Discovery in the Cloud

January 20 @ 3:00 pm - 4:00 pm
Thu 21

Next Generation Vulnerability Assessment Using Datadog and Snyk

January 21 @ 1:00 pm - 2:00 pm
Mon 25

Security Challenges and Opportunities of Remote Work

January 25 @ 1:00 pm - 2:00 pm
Tue 26

Preventing Code Tampering & Verifying Integrity Across Your SDLC

January 26 @ 1:00 pm - 2:00 pm
Thu 28

Protecting Cloud-Native Apps and APIs in Kubernetes Environments

January 28 @ 1:00 pm - 2:00 pm
Feb 03

Too Close to the Sun(burst): A Supply Chain Compromise

February 3 @ 11:00 am - 12:00 pm
Feb 04

Lessons from the FinTech Trenches: Securing APIs at Finastra

February 4 @ 3:00 pm - 4:00 pm
Feb 10

Finding Vulnerabilities in Your Cloud Native Applications Before They Find You!

February 10 @ 11:00 am - 12:00 pm
Feb 11

How to Merge AppSec and DevOps Effectively for the Good of Software

February 11 @ 3:00 pm - 4:00 pm
Feb 17

Finding and Preventing Secrets in Code

February 17 @ 3:00 pm - 4:00 pm

More Webinars

Download Free eBook

The Dangers of Open Source Software and Best Practices for Securing Code

Recent Security Boulevard Chats

  • Cloud, DevSecOps and Network Security, All Together?
  • Security-as-Code with Tim Jefferson, Barracuda Networks
  • ASRTM with Rohit Sethi, Security Compass
  • Deception: Art or Science, Ofer Israeli, Illusive Networks
  • Tips to Secure IoT and Connected Systems w/ DigiCert

Industry Spotlight

How Utilities Can Mitigate Cyberthreats
Cybersecurity Industry Spotlight Security Boulevard (Original) 

How Utilities Can Mitigate Cyberthreats

January 20, 2021 David Goddard | 13 hours ago 0
Bringing Source Code Security Up to Speed
Application Security Cybersecurity Identity & Access Industry Spotlight Security Boulevard (Original) 

Bringing Source Code Security Up to Speed

January 19, 2021 Dor Atias | Yesterday 0
Hackers Calling Fair Game on Healthcare Institutions
CISO Suite Cybersecurity Data Security Governance, Risk & Compliance Industry Spotlight Security Boulevard (Original) Threat Intelligence 

Hackers Calling Fair Game on Healthcare Institutions

January 18, 2021 Caleb Barlow | 2 days ago 0

Top Stories

Capitol Rioters ID’ed With Help From Dating Apps
Cyberlaw Cybersecurity Featured Incident Response Mobile Security News Security Awareness Security Boulevard (Original) Social Engineering Spotlight Threat Intelligence 

Capitol Rioters ID’ed With Help From Dating Apps

January 18, 2021 Richi Jennings | 2 days ago 0
Revealed: Sophisticated ‘Watering Hole’ Attack – But By Whom?
Analytics & Intelligence Cybersecurity Featured Incident Response Malware Mobile Security News Security Boulevard (Original) Spotlight Threat Intelligence Threats & Breaches Vulnerabilities 

Revealed: Sophisticated ‘Watering Hole’ Attack – But By Whom?

January 15, 2021 Richi Jennings | Jan 15 0
Hackers Didn’t Only Use SolarWinds to Break In, Says CISA
Analytics & Intelligence Application Security Cloud Security Cyberlaw Cybersecurity Data Security Featured Incident Response Malware Network Security News Security Boulevard (Original) Spotlight Threat Intelligence Threats & Breaches Vulnerabilities 

Hackers Didn’t Only Use SolarWinds to Break In, Says CISA

January 11, 2021 Richi Jennings | Jan 11 0

Security Humor

via     the comic delivery system monikered   Randall Munroe   resident at   XKCD  !

XKCD ‘Pulsar Analogy’

Join the Community

  • Add your blog to Security Bloggers Network
  • Write for Security Boulevard
  • Bloggers Meetup and Awards
  • Ask a Question
  • Email: info@securityboulevard.com

Useful Links

  • About
  • Media Kit
  • Sponsors Info
  • Copyright
  • TOS
  • Privacy Policy
  • DMCA Compliance Statement

Other Mediaops Sites

  • Container Journal
  • DevOps.com
  • DevOps Connect
  • DevOps Institute
Copyright © 2021 MediaOps Inc. All rights reserved.
Our website uses cookies. By continuing to browse the website you are agreeing to our use of cookies. For more information on how we use cookies and how you can disable them, please read our Privacy Policy.