The IAPP has released the Privacy Risk Study 2023, a comprehensive study developed in collaboration with KPMG examining the privacy challenges organisations face concerning risk assessment and management. Among the key takeaways, 93% of organisations consider privacy is among the top 10 organisational risks.
The five highest areas of privacy risk include:
- Data breaches
- Noncompliant third-party data processing
- Ineffective privacy by design implementation
- Inappropriate personal data management
- Insufficient privacy training for employees.
The most common emerging privacy risk identified is the challenge of keeping up with compliance requirements that vary or change across different regulatory regimes. Other emerging risks that ranked highly are the challenge of balancing data localization requirements with EU business needs, unintended consequences associated with AI use, and privacy risks arising from attempts to monetise data.
The full report requires IAPP membership, but an executive summary is available to everyone.
In a related article, the IAPP looks back at key data points from past surveys and potential challenges for industry professionals to be aware of ahead of the launch of the IAPP-EY 2023 Privacy Governance Survey.
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