One-fourth of all London businesses are unaware of the General Data Protection Regulation (GD)R), according to a survey by theLondon Chamber of Commerce and Industry (LCCI).
Of 500 businesses polled, 24% say they’re not aware of the GDPR. And of those that are, only 16% are prepared to deal with it.
In addition, 21% want to prepare for the GDPR but need to know more about it.
Overall, 34% feel that GDPR is not relevant to their business.
“Businesses that are already vigilant about their data protection responsibilities are unlikely to be unduly burdened by the new legislation,” states Colin Stanbridge,chief executive of LCCI. “However we would urge businesses to take this opportunity to review their processes to see if they need to make any changes to be compliant.”
The LCCI notes that the GDPR mandates fines for non-compliance of up to 4% of global annual turnover, compared to the current top penalty of £500,000 under the UK Information Commissioner’s Office.