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New UK GDPR Draft Greatly Reduces Business Compliance Requirements
Friday, March 17, 2023
There is also still some distance to go before the final form of the UK GDPR reveals itself. Parliament will still have to weigh in, revisions will undoubtedly be made, and interest groups are already lining up to push for changes. Privacy and civil society groups are already lining up against the proposal due to its reduction in personal protections, while some trade and technology associations have come forward with statements of praise. DSIT has claimed that the new UK GDPR draft will save the national economy over £4 billion over the coming decade, an estimate that is up from a projected £1 billion savings in the prior draft.
Dr. Ilia Kolochenko, Founder of ImmuniWeb, falls on the latter side of this debate and articulates its central points: “The proposed bill, more specifically as an underlying purpose of de-complexification, may serve as a laudable example to EU lawmakers. Amid the rapidly growing EU GDPR fatigue, inconsistent enforcement among the EU member states and growing costs of formalistic compliance that merely fosters the tick-a-check-box-and-forget “security”, European companies would gain a significant competitive advantage on the global market if European GDPR goes through a similar set of improvements and simplifications.”
“The current EU’s cybersecurity regulatory landscape is commencing verging on overregulation, making it a disservice to both European individuals and businesses. In the meanwhile, even more EU-wide legislation on AI, cybersecurity and privacy is coming in 2023-2024 – often promoting hardly compatible values and objectives thereby making compliance extremely complicated and unnecessarily expensive. If the trend of overregulation persists, we will probably see a massive and deliberate non-compliance as costs and penalties for non-major infringements will likely be much less important than costs of a holistic implementation of the mushrooming EU cybersecurity regulations and directives,” noted Kolochenko. Read Full Article
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