Companies of all shapes and sizes are struggling to comply with the forthcoming enactment of the California Consumer Privacy Act, and nearly three quarters of respondents to a survey about the law rated their current preparedness at or below six on a scale of one to 10.
Breaking out the results by industry, companies in the banking sector are slightly less prepared than other industries, according to the survey, which was conducted by the International Association of Privacy Professionals and OneTrust, a technology platform.
Only 55% of all companies that participated in the survey expect they will be fully compliant when the law goes into effect on Jan. 1, 2020. Another 25% think it will take until next July before they are fully compliant with the provisions of the CCPA.
Under the CCPA, individuals will have the right to ask for all of the personal information stored about them by companies for the preceding 12 months. The law gives consumers access to the information stored about them by companies and the right to request that information be deleted.
When asked why complying with the law is such a challenge, the two most popular responses were a lack of bandwidth and time to get everything in order and the complexities of the law itself.