The General Data Protection Regulation (GDPR) is a regulation that is intended to strengthen data protection for individuals within European Union (EU) countries. The primary objectives of the GDPR are to give people more control over their personal data, to help protect personal data from the risk of loss, and to unify regulatory privacy and data requirements within the EU.
The GDPR became enforceable May 25, 2018. It is vital that any organization who conducts business in the EU understands the overall design of the GDPR and ensures its technology and processes align with the GDPR requirements.
Today's technology is much different than it was 20 years ago. No one could have predicted how the Internet, smartphones and the widespread use of social media applications such as Facebook and Twitter could have global implications.
As a Regulation, the GDPR creates a uniform data security law across the EU. Each EU country no longer needs to pass their own legislation for data security; the GDPR is the guiding law. However, EU countries can still regulate certain types of data such as health data.
If you are currently doing business in the EU, you may already have privacy processes and procedures in place. But will these hold up to the new GDPR regulations and requirements? For instance, the GDPR has set a higher standard for consent. To ensure that your business is GDPR compliant, it is essential that you review your consent policies and procedures to verify that these meet the new higher standards.
The risk to your company? High levels of fines (which can be as high as 20 million euros or 4% of your total worldwide annual revenue, whichever is higher) as well as potential damage to your brand and reputation.
How We Can Help
Our experts understand the impact the GDPR requirements can have on your operations and will bring procedural and technological expertise to your organization regarding these issues. CompliancePoint can help you determine your preparedness and then recommend appropriate solutions and services.
Failure to comply with relevant legislation can have a devastating impact on your business. Don’t take chances - let our experts help!
We can help you comply with the GDPR
"SMBs are not immune to the risk of GDPR. The risk of fines and regulatory action are the same for businesses large and small."
-- Greg Sparrow, CompliancePoint Senior Vice President & General Manager