Managed data may be at risk, as the Information Commissioner's Office (ICO) says the protection laws in Europe may not be strong enough.
According to the ICO, an international debate and a comprehensive assessment is needed on the strengths and weaknesses of the laws.
The ICO has subsequently commissioned the help of a think tank to carry out this assessment, in order to highlight the potential for reform.
Richard Thomas, the UK information commissioner,said: "European data protection law is increasingly seen as out of date, bureaucratic and excessively prescriptive."
He added that the legislation is "showing its age" and is not meeting the new challenges of the world today.
"It is high time the law is reviewed and updated for the modern world," Mr Thomas stated.
One potential amendment which could be made is a law which forces companies to reveal any data breaches.
According to a survey of IT professionals from the Ponemon Institute, unstructured managed data is the biggest threat to security in the UK.
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