Security News > 2020 > July > CCPA enforcement to put pressure on financial organizations’ IT resources

According to the survey, 32% of financial organizations have already seen an increase in data subject access rights requests since the CCPA came into force on January 1, 2020.

This means that many financial organizations, which are already facing tough times, will need to allocate additional workforce and budget to ensure compliance with the CCPA. Other findings 33% of financial organizations discovered sensitive or regulated customer data outside of designated secure locations.

75% of financial organizations that classify data can detect data misuse in minutes, while those who don't usually need days or months.

"While organizations are unlikely to be flooded with data subject access requests on July 2, they do need to be prepared to process requests accurately and promptly. One missed deadline or incompletely fulfilled request could result in a thorough audit from the authorities and sizable fines."

"To ensure compliance while controlling costs and relieving the burden on IT, financial organizations need to automate the DSAR process," said Steve Dickson, CEO of Netwrix.

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