14 May 2013

An ICO-commissioned report based on a survey of 506 businesses highlighted both a lack of understanding of the key proposed provisions being proposed, as well as an inability to quantify and estimate their current and projected data protection expenditure.

In summary:

  • 40 per cent of companies don’t fully understand any of the ten main provisions being proposed
  • 87 per cent unable to estimate likely costs of draft proposals to their business
  • 82 per cent of survey respondents were unable to quantify their current spending on data protection
  • Estimated average costs of data protection are skewed by a small number of observations by large organisations, who are more able to put a figure on their data protection expenditure
  • The vast majority of companies with over 250 employees or processing more than 100,000 records already employ a member of staff focused on data protection compliance, a key part of EU proposals

The news report can be found here, with the full London Economics report available here.