The EU General Data Protection Regulation (GDPR) is intended to strengthen and unify data protection for all individuals within the European Union. GDPR will be fully enforceable on 25 May 2018, yet Gartner predicts that by the end of 2018, more than 50% of companies affected by the GDPR will not be in full compliance with its requirements.
On May 25th, 2018, The European Union’s General Data Protection Regulation (GDPR), designed to reform data protection in Europe comes into force worldwide. This particular regulation is the result of over 4 years of collaboration between the European Council & Parliament, who desired to make a more clarified stance on the protection of citizens’ personal data.
The EU has shown a strong interest in protecting the data of its citizens from early 2012, and the latest directive is the General Data Protection Regulation. The European Union’s General Data Protection Regulation (EU GDPR) affects every organization that handles the data of European citizens.
If America had their own version of GDPR, the Experian hack would look totally different. One of the largest security breaches in history has just been revealed. Between May and July 29th of this year, a team of hackers infiltrated a major US credit bureau and accessed the personal data of 143 million US citizens.
With the impending EU General Data Protection Regulation coming to take the world by storm, there is a bit of confusion as to which companies are required to hire a Data Protection Officer (DPO).
The EU General Data Protection Regulation is causing headaches in C suites across the world. This regulation aims to protect all European citizens from privacy and data breaches, and secure their information. Information security and risk management is a top issue for CIOs. The impending regulation is a top concern for US companies too, with some 77% companies willing to spend $1 million or more on GDPR readiness plans or worse, shut down their European operations to protect themselves from expensive penalties.
On May 25th, 2018, The European Union’s General Data Protection Regulation goes into effect. The GDPR introduces many new data accountability obligations, data restrictions, and security parameters that every business in the world that processes European citizens’ information must comply with.
The General Data Protection Regulation will be enforced globally on May 6, 2018. Technically, your enterprise has until then to comply with the strict regulations. We’ve outlined the 6 major changes that the GDPR will bring to your company in this previous blogpost. Even if your company is not located within the European Union, if you process the personal data of European citizens, your company must comply (see Art. 3 GDPR).
The focus of today’s blog is on GDPR penalties for failure to comply.
Time is counting down to the GDPR enforcement date - 25 May 2018. As of today, organizations worldwide have around 8 months to be fully compliant with the European General Data Protection Regulation.
This is what industry leaders are saying about the impending regulation: