The GDPR stands for General Data Protection Regulation, this is a mandatory policy that came into force on the 25th May 2018. This regulation aims to consolidate the many different data protection regulations which are spread across all EU member countries. The UK has updated its Data Protection Act (DPA) from the 1998 version to the newer 2018 edition, which allows the DPA to fall closely inline with the GDPR.
Complying with the GDPR
Compliance towards the DPA 2018 and the GDPR is a mandatory legal requirement from the 25th May 2018 for all businesses that either interact with EU residents or are based within the UK. Businesses will no longer be able to use personal data for their own competitive advantage; and must follow a clear set of rules to ensure data is processed in a fair and consistent manner.
Compliance towards the GDPR and the Data Protection Act (DPA) 2018 will help you eliminate unnecessary data flows, streamline operations and get your staff cyber-aware. Your business brand, reputation and profitability will naturally be protected by a robust set of data protection controls. The cost and effort of putting your company through GDPR compliance is negligible compared to the cost of a data breach.
Heavy sanctions are proposed for continual non-compliance and/or large scale data breaches, up to 4% of annual worldwide turnover, or €20m, whichever is greater. With this in mind alone, GDPR compliance must be taken very seriously.
Benefits of Compliance
- It is a mandatory requirement from May 2018 – if your business has a heavy reliance on the processing of personal data, steps must be taken now
- Show commitment to security – demonstrate to your business partners, regulators and suppliers that you take data protection seriously
- To win public sector work – independently verified DPA 2018 / GDPR compliance is likely to become mandatory for public sector suppliers. Proper evidence will be required, you will no longer be able just to tick a box
- Competitive advantage – in comparison to rivals that are not DPA 2018 / GDPR-ready
- Safeguard commercially sensitive data – Cyber criminals actively target companies with high value data. Streamlining data flows, removing legacy data and putting into place security awareness and policy controls will go a long way to reducing your company’s exposure to data thieves
- Professional advice from a cyber security consultancy – Gain an expert oversight of your data protection controls
- Gain independent verification – from data protection experts
- Protect your business profits and reputation – by avoiding the financial disaster and negative publicity associated with a data breach
Data Protection is changing, be prepared for GDPR
The GDPR focuses on a key set of controls, which will protect your data from criminal, unauthorised and accidental use. Focus is very much on an individual’s right to privacy and the elimination of unnecessary data storage. We work in conjunction with Data Protection professionals who can guide you with the specifics your company is required to meet.