Towards GDPR compliance: Your Action Plan
The General Data Protection Regulation (GDPR), which applies from 25 May 2018, will bring about a step change in risk for organisations that process personal data. Will your organisation be ready to comply from day one? It’s time to take action.
You will have by now heard about the significant administrative fines that organisations may face for breaching the GDPR – depending on the type of breach, you could be looking at handing over up to the higher of:
€20 million or 4% of the total worldwide annual turnover in the preceding financial year, or
€10 million or 2% of the total worldwide annual turnover in the preceding financial year.
This considerably increases organisations’ regulatory risk exposure to levels that demand proper attention.
The GDPR will also require extensive changes to be made to your organisation’s operations and, in some cases, business models. Notably, the GDPR’s wider scope captures certain processing operations outside the EEA and a broader range of processing activities, and the new ‘accountability’ principle will make developing a compliance culture a necessity rather than a ‘nice to have’.
Further, there are the business risks associated with the costs of compliance with the enhanced obligations for both controllers and processors, and the wider impact of personal data breaches,
Download PDF brochure to find out more.