Dec 062011
 
 December 6, 2011  Breaches, Laws, Non-U.S.

Joseph Parish reports:

The European Commission is finalizing privacy protection rules where companies could be fined up to five percent of their global sales for mishandling the data of customers, suppliers, or employees. Because the law would apply to foreign companies with branches in Europe, it gives the EU significant power to regulate privacy worldwide. Under the proposed system, all companies with more than 250 employees would be required to have dedicated data protection staff, and businesses would have 24 hours to notify authorities of a security breach.

Read more on The Verge.

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