Cyber security, data protection most common risks for German companies: survey

Source: Xinhua| 2018-12-13 03:20:52|Editor: Mu Xuequan
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BERLIN, Dec. 12 (Xinhua) -- Cyber security and violations of data protection are posing the biggest risks to German companies, according to a survey by the law firm Noerr and the Center for Corporate Compliance at EBS Law School published on Wednesday.

A total of 47 percent of the surveyed German companies named cyber security as a big risk from a corporate perspective.

Almost 75 percent of German companies with more than 1,000 employees responded that they had been affected by at least one crisis over the past two years. Incidents around cyber security such as attacks by hackers, operational risks and investigations by authorities had been the most frequent reason for crisis.

Forty-eight percent of the surveyed rated violations of data regulations as a big risk concerning the future. The European Union-wide data protection regulation (GDPR) would make a considerable contribution to this widespread uncertainty, according to the survey. Before the new European data protection law was passed in 2016, only 6 percent named violations of data protection as a risk.

The European data protection law, that has been in effect since May 2018, is intended to create a common standard throughout the European Union. The European Commission is to give citizens more control over their personal data as well as to create equal conditions for all companies which operate in the EU.