Up to 70% of Companies are not GDPR compliant
How it affects Individuals and Organisations.
I am going to quickly Crash through the history General Data Protection Regulation(GDPR). Made in April 14, 2016 but adopted in March 2018. The GDPR is a regulation in EU law on data protection and privacy for all individual citizens of the European Union (EU) and the European Economic Area (EEA). According to ITPRO, GDPR main purpose is to give individuals greater control of their personal data that’s held by third-parties, such as retailers or social networks.
Under the previous legislation of the Data Protection Act 1998, the maximum fine an organisation could be punished with was £500,000 — This is a drop in the bucket to the billions most companies caught in infraction of the DPA made every quarter — Imagine a parking ticket costing $5 when it cost $100/hr to park.
After a year of the enacting of the GDPR in March 2018 majority of have failed to comply with the GDPR law. A survey carried out by Capgemini a research company shows that organisations overestimated their readiness of the GDPR with only 28% of Companies achieving compliance all around the world.
What does this mean? This means that Big corporations have been treating our data lackadaisically. The survey shows a projection of 78% of compliant companies by the year 2019 but they were short by 80% of their projection with only 28% companies reaching compliance by 2019.
Some of the big companies that have been hit recently with major fines are
- Marriott, €123m for Data Massive Breach
- Google, Facing Possible €5.45bn Penalty for GDPR Workaround
- Unlawful Use of Facial Recognition Technology Lead to GDPR Penalty of €1 million
- GDPR: French Real Estate Company Faces €400,000 Fine
- French Data Protection Agency hits Google with €50m GDPR Penalty
In my opinion, I think the GDPR fine for data privacy breach should be significantly higher and commensurate to the profit made by the companies who deal with billions individuals data. I also people need to get educated on the importance of their privacy and the rights when it comes to their data.
Thank You,
See You next week.
