From: Bloomberg/BNA
Companies can lower the risk of massive fines under the new European Union privacy regime by embracing encryption of personal data, privacy attorneys and data security professionals told Bloomberg BNA.
The EU General Data Protection Regulation (GDPR), which takes effect in May 2018, instructs privacy regulators to consider whether data are encrypted in setting fines for data breaches, which can reach maximums of 20 million euros ($21.9 million) or 4 percent of a company’s global annual revenue.
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