"Besides the significant financial burden of fines, the obligation to disclosure the personal data breach may have significant reputational impacts for the enterprises" declares Magda Cocco, partner responsible for VdA's Privacy & Data Protection practice, to the daily newspaper Jornal de Negócios, on March 19, 2014, which publishes an article regarding the new regulation on online data protection that will replace an European Directive with almost 20 years of existence and which will be applied in all EU State-Members.