Your Network Has Been Hacked. You Have 72 Hours to Report It.

Multinational corporations are taking steps to more quickly detect and report data breaches, in part to avoid steep penalties under a sweeping set of regulations from the European Union.

The magic number: 72 hours.

The General Data Protection Regulation, which took effect in May, requires firms that collect data about European Union citizens to report a data breach to regulators within 72 hours of discovery. Organizations that fail to comply with GDPR face fines of up to 4% of their global revenue.