If you thought that a customer data theft was a marketing nightmare before the new General Regulation on Data Protection (GDPR), it's time to wake up.
According to GDPR regulations for companies that process EU citizens' personal data, companies must identify the breach, find out what people have been affected and inform them – all within 72 hours.
But these three days seem likely to be a luxurious vacation for banks in India, according to Ted Bardusch, head of information security at the Usermind Customer Engagement Center.
Two years ago, the Reserve Bank of India decreed that any bank victim of a breach of security should report it within a maximum of six hours.
Whatever the actual number of hours in your jurisdiction, the trend is clear. The period during which companies must respond publicly to a security breach is becoming shorter and shorter.
In addition to better security measures, Bardusch suggests that brands extend their customers' travel beyond their loyalty or brand promotion zone and take steps to manage customer interactions. Obviously, the bigger the planning of a brand, the faster it can react.
[Read the full article on MarTech Today.]