New EU Rules Require ISPs, Telcos To Come Clean Within 24 Hours of Data Breaches

hypnosec writes "Under new EU regulations ISPs and Telcos serving European customers will have to come clean within 24 hours in case of a security or data breach that leads to theft, loss, or compromise of data. Companies will have to disclose the nature and size of the breach within the first 24 hours. Whenever it's not possible to submit such data, they must provide 'initial information' within the stipulated time and full details within three days. Under the new terms the affected organizations will be required to reveal information such as information that has been compromised and the steps that have been taken or will be taken to resolve the situation. If the breach 'is likely to adversely affect' personal information or privacy, affected businesses and consumers will be notified of the breach."