GDPR is coming for your business
Is your firm General Data Protection Regulation (GDPR) compliant?
On May 25th 2018, the new GDPR Compliance requirement will become part of EU law replacing the existing data protection framework under the EU Data Protection Directive. It does seem that the only constant in today’s data-driven world is change, and it is putting pressure on companies who might prefer to operate in a steady, familiar environment, to become more dynamic and even go so far as to now consider employing data specialists.
The latest and most important “oh-gawd-not-more-change” development means that organisations will need to secure/encrypt the likes of all staff documents, any soft copy data on individuals or organisations, the security of physical documents. And that includes all marketing materials!
The likes of Google and Facebook have already taken the necessary steps to protect themselves. Indeed, you might interpret GDPR as being an extension of the ‘Unsubscribe’ button option on marketing materials received via hundreds of emails per week i.e. GDPR is putting the power back in the hands of the individual.
Interestingly – or worryingly depending on your perspective – punishment for non-compliance is mooted to be up to 4% of a firms annual revenue, not profits. It is not clear how much lenience will be provided in the early days of this new legislation. Ask yourself – will you be fully compliant on 25th May 2018?
On May 25th 2005, Liverpool won the European Cup. Absolutely nothing to do with GDPR, I just thought it’d be nice to mention it.
For more information, go to the Data Protection Commissioner’s dedicated GDPR page HERE