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As CCPA Enforcement Approaches, 56% of Businesses Report They Will Not Fully Prepared
On Agust 20, PossibleNOW™, announced the results of its latest survey, showing 56% of U.S. businesses polled reported they do not expect to be fully prepared to meet California Consumer Privacy Act (CCPA) requirements by the January 1, 2020 date of enforcement.
When survey respondents were asked why their organization wouldn’t be compliant:
35% said their primary reason is the cost of becoming compliant
32% stated they were waiting to see how the CCPA will be enforced
17% said they didn’t think their organization is large enough to face fines
11% said the law is new to them and they are unsure of the requirements, and
4% stated they didn’t think the law applies to them.
Penalties for noncompliance are $2,500 per record for each unintentional violation and $7,500 per record for each intentional violation. So, a company that doesn’t honor or mismanages 1,000 consumer privacy requests could face a fine ranging from $2,500,000 to $7,500,000