Companies in the Isle of Man are being urged to wise-up to tougher future regulations on the storage and protection of the data collected on customers.

A seminar in Douglas today (Thursday 21) will outline the increasing responsibilities facing organisations which store data and the penalties they could face for breaching regulations.

A panel of expert speakers includes Vice President of Payment System Risk at VISA Europe Colin Whittacker and Chairman of UK Cloud Forum Frank Jennings. The event at the cinema suite in the Villa Marina is hosted by Cable and Wireless Communications.

The panel also includes Blackfoot UK CEO Matthew Tyler and IP lawyer Tim Ryan from Clarke Willmott and over the two hour presentation will examine current issues in data generation, security, protection and location. There will also be an opportunity for the invited audience to discuss current thinking and opportunities in data asset value and data mining.

Business Development Director for C&W Justin Bellinger says the seminar aims to update business heads from different sectors in the Island on an emerging new regime governing data: