07 May 5 things you need to know about GDPR today
It appears from the people I have been talking to in the last few months that the information about these new regulations on Data Privacy have not been getting through. In a straw poll at a business event 60% of the small businesses present had not heard of the changes and only 5% of those who had, had actually started any sort of planning for implementation by the deadline.
Here are just 5 quick points about GDPR and how it will effect your business.
1. It becomes Law in MAY 2018
The clock is ticking, if you haven’t heard anything then start investigating now as you have a lot to do before May 2018!
2. It Applies to ALL Companies
GDPR applies to all Companies that process data about, or belonging to European Citizens, this is the first GLOBAL Data Protection Law.
3.It tightens the rules for all
You will have to prove that you have valid consent to collect, hold or use the personal data of anyone covered by the new regulations ( it is expected that current consent rules are not valid under the GDPR )
4. Any Data Breach of ANY SIZE must be reported within 72 hours
The new regulation requires all organisations to notify the local data protection authority of a data breach within 72 hours of discovering it.
5.It requires privacy by design
You have to be able to show that all processes and systems that you use, install or operate have taken the new regulations into account.
I will be expanding on the subject of GDPR over the next 12 months, as a last extra point for you to consider, for those not compliant and who experience a major data breach, the breach could lead to fines of up to €20 million or 4% of global annual turnover for the preceding financial year, whichever is the greater …