An IDC InfoBrief ‘Data Risk Management Barometer – Gauging Asia-Pacific’s Potential’ that was conducted by IDC for Dell EMC shows that the severity of financial penalties for non-compliance with data privacy legislation across key APJ markets.
The IDC findings highlight Singapore, Australia and Hong Kong as the top markets that incur the harshest penalties for data breaches as a percentage of the country’s gross domestic product (GDP) while Japan, India and Thailand are at the bottom of the scale.
The IDC InfoBrief exposes large-scale differences in penalties across fourteen APJ markets, underscoring the importance for businesses, particularly multinationals, to be aware of the variations in data privacy laws for each market in which they operate.
“Being data-driven is inevitable for organisations that are transforming digitally, businesses are realising the opportunity using data effectively offers to transform their products, services and strategies. But as they use data to take advantage of new opportunities, there is also greater risk – the attack surface is expanding and so too are the requirements for how you manage this data,” says Dmitri Chen, Vice President of Specialty Sales, Asia Pacific & Japan at Dell EMC. “This makes building scalable secure IT environments and optimising infrastructure an unavoidable requirement for organisations today.”