The General Data Protection Regulation (GDPR), taking effect in May of 2018, will be a game-changing regulation that will reset the best practice models for data privacy and protection globally. As a regulation, as opposed to a directive, it will directly impose a uniform data security law on all EU members and will also apply to non-EU companies if they process personal data of EU individuals. The GDPR will increase privacy for individuals and give regulatory authorities greater powers to take action against businesses that breach the new law.
Preparing for GDPR is no small task – the regulation requires organizations to know exactly what, when, and where they are collecting information from covered persons, processing the information, storing the information (and how long), and sending information to others, including across borders. This, in addition to the fact that organizations could be liable for fines of up to 4% of annual global revenue (or €20 million whichever is greater), has propelled data protection directly into the boardroom.
What does this mean for your organization? View the on-demand webcast for tips to accelerate your GDPR readiness.