Copenhagen: January 22, 2015 – Enterprises and organizations throughout the EU are facing major challenges in handling personal data as the EU Council are expected to pass the General Data Protection Regulation (GDPR). The GDPR, that will automatically translate into national legislation and introduces dramatic changes with regards to how personal data should be collected, stored, accessed and utilized and how companies are obliged to respond in the event of a data breach.
One of the most dramatic consequences of the new legislation is that companies can be fined up to €100 million or two-five percent of their global turnover – in the event of a data breach of personal data. In addition, companies are required to inform authorities about a data breach within 72 hours and to inform users – paying or otherwise – of data breaches without any delay. The regulation also requires organizations with more than 250 employees to have a Data Protection Officer in place, who is responsible for ensuring compliance.
“With the GDPR coming into effect it’s becoming crucial for any organization to have an efficient process in place to provide detailed documentation of data breaches. The requirements mean that the organization must be able to swiftly identify the breach and document the extent of the leakage. This calls for new security and data protection policies as well as new roles and responsibilities within an organization, but it also calls for new efficient tools like the LogPoint Security Information and Event Management system”, says Jesper Zerlang, CEO of LogPoint.
LogPoint enables enterprises and organizations to proactively monitor their networks and identify security threats in real-time to prevent cyber attacks and fulfil their compliance requirements, including the GDRP. LogPoint is flexible, scalable and hardware independent and very easy to integrate with log-sources from a multitude of systems, ranging from network equipment and storage devices to operating systems and applications. LogPoint collects logs and extracts and stores key events in encrypted format in cutting edge NoSQL – and carries out lightning fast searches using Big Data technologies. LogPoint provides instant overview of activities in the enterprise network and documents all transactions meticulously.
“In the event of a data breach, LogPoint ensures logs, enabling you to get a complete overview of what exactly has been accessed, allowing you to swiftly inform regulators. Further, by utilizing LogPoint you can set up reports, which prove compliance and assist auditors. Preparation is key. Implementation of the General Data Protection Regulation may seem far away, yet experience shows that considering the actual review of the organizational setup as well as potential system upgrades, process changes and new implementations, starting the process now would not be a day too soon“, says Jesper Zerlang.
The European Data Protection Regulation is to replace the Data Protection Directive of 1995, which was created to regulate the progression of personal data within the European Union. Officially known as the Directive 95/46/EC the legislation is part of the EU privacy and human rights law. The aim of the new European Data Protection Regulation is to modernize the legislation and harmonise the current data protection laws in place across the EU member states. The fact that it is a “regulation” instead of a “directive” means it will be directly applicable to all EU member states without a need for national implementing legislation.
“It is of crucial importance that organizations seriously consider how to ensure compliance to the GDPR now. The effects of non-compliance are severe financial penalties, lawsuits and potentially reputational damage beyond repair. We are starting to see CEO’s and boards take an interest in cybersecurity and data protection compliance, but it’s still surprisingly low ranking on the strategic agenda in European enterprises and organizations, considering the dire consequences that a major data breach could have”, says Jesper Zerlang.
According to Gartner Group, the cybersecurity and SIEM-markets are currently experiencing double-digit growth. LogPoint is one of the leading European providers of Security Information and Event Management (SIEM) solutions. Combining Scandinavian simplicity and European detail, the LogPoint technology surpasses compliance demands, defends against cybercrime and fraud and facilitates network optimization. Headquartered in Copenhagen and with offices in Sweden, Germany, France and the UK, LogPoint serves hundreds of organisations in a dozen European countries.
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LogPoint is a SIEM pioneer founded in Denmark, having introduced our SIEM product to the market in 2008. Today, over 250 clients throughout Europe are experiencing the LogPoint difference. Combining Scandinavian simplicity and European detail, LogPoint technology is designed to transform big data into an effortless package. LogPoint users enjoy how easily it adapts to stay in sync with client needs – from surpassing compliance demands, to seamlessly defending against cybercrime and fraud, and optimizing IT operations. LogPoint is the most flexible platform available for collecting, analyzing, and monitoring all data – whether they are generated by applications, databases, or infrastructure, or involve sensitive assets, manufacturing systems, or security systems. The scale-as-you-grow principle allows for quick and easy visualization with only a few resources – no matter how vast the IT landscape, no matter how dense the data. With headquarters in Copenhagen, our sales and support offices are located throughout Europe and our partnerships reach across the globe.