Preparing for the GDPR - What do you need to know right now?

Preparing for the GDPR - What do you need to know right now?

The consequences of non-compliance with the new GDPR could mean fines of up to €20,000,000 or 4% of annual turnover, as well as having other major business impacts.

In fact, the general consensus is that GDPR is not a destination - but a continuous journey of constantly reviewing data, removing low value data, looking at new data, following procedures, and maintaining trust with customers by prioritising their privacy.

Nearly two fifths (38%) of respondents acknowledge that they are not ready for the GDPR, either admitting that current control access policies are insufficient to comply with the regulation or they have "no idea" whether they meet the regulation's standards. Protecting the personal data of our stakeholders will always be a top priority for Avaya and this endorsement demonstrates that we are committed to achieving the highest standards, ” said Koldo Loidi, Global Data Privacy Officer, Avaya.

What does the GDPR mean for users?

"It would be a mistake for Australian businesses to behave as though these regulations are irrelevant, since keeping personal information safe goes beyond a simple compliance requirement". You need to be sure that your IT providers - such as those offering cloud services - are GDPR compliant, and that high information security standards are adopted all along your data supply chain.

GDPR will unite all 28 member states under a single piece of data-protection legislation, making it easier to share information between entities in two nations. Also, if it's not already been completed; data protection should be incorporated into the corporate risk management and internal control framework.

David and Garfield note that the United Kingdom is responsible for 11.5 per cent of worldwide data flows, and that its location between U.S. and the European Union makes it an attractive place for investment. The company has also hired a specialist to look into compliances including GDPR.

Homan loses fourth game, Koe rebounds in curling for Canada
Canada's world champion women's curling team is out of the running for an Olympic medal after a shocking loss to Britain. Muirhead's team capitalized on the gift, blanking the seventh, and then scoring a deuce in the eighth to tie it at 4-4.

SEGRO (SGRO) Stock Rating Reaffirmed by Liberum Capital
In other news, insider Brian Gilvary bought 65 shares of the firm's stock in a transaction that occurred on Monday, February 12th. The firm operates through Well Construction, Well Completion, Well Intervention, and Exploration and Production divisions.

Renault convinced RS18 will produce big step forward
The Renault R.S.18 will make it's on track debut at the first test in Barcelona, from 26 February to 1 March. Our strength and development in the second part of the year showcased just how much we progressed.

While not necessarily safeguarding nuclear codes, companies and organisations the world over contain information, contact details and personal data relating to staff, suppliers and clients, sometimes thousands of names, numbers and addresses.

Be careful with the way you seek permission to process someone's data.

On average, large United Kingdom businesses that responded to the survey collect personal data from 577 individuals each day.

Despite the concerns Brits have generally about data protection and privacy, 58 per cent of respondents think the regulation is a positive step towards protecting their data and privacy, with Londoners the most positive (65 per cent).

The rules around consent are clear: it must be freely given by the individuals; the information must be unambiguous, specific and with no jargon, and consent must be given affirmatively. People will now need to actively opt-in to receive communications and have the right to withdraw their consent at any time.

Data subjects now have the right to portability, which requires any information requests to be provided in an easily portable form, such as a memory stick, as well as existing rights such as the right to be forgotten and right of access being increased in scope. GDPR significantly expands these rights. The research also highlights a lack of knowledge among consumers of the changes being ushered in by the regulation, with only one in four (27 per cent) of respondents agreeing they have an understanding of what GDPR is and how it affects them. They should only consider GDPR partners that have hands-on experience, great relationships with other experts in the field, access to specialist tools - and possesses a strong track record in regulated sectors.

He also cautioned companies to not be afraid of GDPR. EY's Singh says companies need to go back to the drawing board to see what data they collect, why they do it and conduct a privacy impact assessment.

Related Articles