Security News > 2024 > January > Budget cuts loom for data privacy initiatives

The past year saw developments and updates to privacy regulations across the globe-from India's Personal Data Protection Bill to Brazil's General Data Protection Law, according to ISACA. However, only 34% of organizations say they find it easy to understand their privacy obligations and only 43% are very or completely confident in their organization's privacy team's ability to ensure data privacy and achieve compliance with new privacy laws and regulations.

In addition to difficulty understanding the privacy regulatory landscape, organizations also face other data privacy challenges, including budget.

43% of respondents say their privacy budget is underfunded and only 36% say their budget is appropriately funded.

When looking at common privacy failures, respondents pinpointed the lack of or poor training, not practicing privacy by design and data breaches as the main concerns.

"When privacy teams face limited budgets and skills gaps among their workforce, it can be even more difficult to stay on top of ever evolving and expanding data privacy regulations and even increase the risk of data breaches," says Safia Kazi, ISACA principal, privacy professional practices.

Ultimately, organizations that always practice privacy by design are also much more likely to be very or completely confident in their organization's privacy team's ability to ensure data privacy and achieve compliance with new privacy laws and regulations.

News URL

https://www.helpnetsecurity.com/2024/01/26/regulatory-data-privacy-challenges/