For industries operating in European operations, General Data Protection Regulation (GDPR) will be mandatory May 25th, 2018. Because of this, companies are operating at fast pace to be compliant with this regulation. As of consequence, you may be receiving some updates…
As some background, in January 2012, the European Commission proposed EU Data Protection Reform. Thereafter, future discussions and later adoption occurred in 2016. Now, organizations must meet requirements in about 20 days — yikes.
Hopefully your organization has been prepared.
However, what does GDPR entail?
This regulation ensures the following:
- Data Encryption
- User Privacy
- User’s right to erasure of their information in company product
- User request how their information is being utilized
- Data Protection Officer (optional)
Why should you care?
Organizations can be fined up to 4% of annual global turnover for breaching GDPR or €20 Million.
Moreover, if there is a partial violation by an organization, the it can be fined up to 2% of annual global turnover for a breach.
If you have any additional questions, please feel free to talk with your Data Protection Officer, myself, or reference the following resources.