Are You GDPR Ready?
In today’s age where data is everything, data protection laws are critical to secure the rights of people. Are You GDPR Ready?
Recent research of Smart Business and ZDN.net, shows that 65.5 percent of those questioned had never heard of GDPR. Today, we live in a digital age where data is extremely valuable and has become an integral part of everyday business. Old data protection legislations are no longer sufficient to protect the consumer’s rights. The GDPR applies to the complete processing of personal data stored on premise or in the cloud.
GDPR requires companies to brief the subjects of such data breaches without undue delay. When businesses are not compliant, they can face fines of up to 20m or 4% of the parent company’s annual turnover. Organizations need to act now to ensure that they are ready to comply with the new regulation.
Although this is an EU regulation, it applies to companies anywhere in the world that handle the data. Some of the key principles and features of the regulation include the use of personal information: when relying on consent as the legal grounds for processing data. The right to be forgotten will be introduced: organizations will not be allowed to retain individuals’ personal information.