GDPR stands for General Data Protection Regulation, this is a mandatory policy that will be taking full effect from the 25th May 2018. This regulation aims to consolidate the many different data protection regulations which are spread across all EU member countries. Additionally, the Information Commissioners Office (ICO) is changing the UK DPA and is aligning the UK Data Protection Act to fall inline with GDPR.
Complying with GDPR
GDPR compliance will become 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.
GDPR compliance 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 GDPR Compliance
- It will be 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 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 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
GDPR focuses on a key set of controls, which when properly implemented will protect 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.
Undertaking the Cyber Essentials scheme with TeraByte will help you with a route to compliance with GDPR, as well as ensuring that your business is reducing its risk against cyber attacks.
To work towards GDPR compliance we recommend that the following steps are followed: