Small and medium-sized companies are late in implementing the LGPD (General Data Protection Law), which has been in effect since September 2020. About 60% of them have not even started to make the changes required by the law, according to a survey by consultancy Alvarez & Marsal.
Among 360 companies of different sizes interviewed, only 10% meet more than 80% of the law’s criteria in their organization. Companies operating in the financial sector, in insurance and related services have the highest levels of adequacy.
The services sector, on the other hand, appears at the other end: 45% of companies meet less than 20% of the LGPD’s requirements, says the survey.
The main challenges indicated by respondents to implement the changes are the lack of leadership in the area of data protection, the lack of budget and doubts about aspects of the law.
According to the consultancy, data protection is still not a priority for smaller companies. The concern is greater among the large companies, which are more susceptible to lawsuits and damages related to the use of information, in addition to having more resources.
More than 60% of companies have invested or plan to invest up to R$100,000 to adapt to the LGPD, while 18% must allocate up to R$500,000 for this purpose.
With Ricardo Balthazar (interim), Andressa Motter e Ana Paula Branco
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