Financial Times reports on the ways the European Commission's draft regulation on data protection may affect EU companies as well as foreign companies processing data on European customers. "It's a big change, and it's my belief that many business leaders haven't even begun to get to grips with what it might mean for their companies," said one attorney. The draft gives an organisation 24 hours to report a breach to their data protection authority and every customer potentially affected. "My main concern is that companies might be forced into providing either an incomplete or a vastly overstated picture of a breach that could do more harm than good," said an IT specialist. (Registration may be required to access this story.)
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