GDPR Compliance

GDPR is a regulation that requires businesses to protect the personal data and privacy of EU citizens for transactions that occur within EU member states and non-compliance could cost companies extremely. The EU General Data Protection Regulation has fundamentally transformed how businesses handle personal data. Any company that does not follow these new norms face severe fines, potentially up to €20 million or 4% of annual global revenue, depending on the severity and circumstances of the violation. In other words, GDPR compliance is not optional.

The European Parliament adopted the GDPR in April 2016, replacing an outdated data protection directive from 1995. It carries provisions that require businesses to protect the personal data and privacy of EU citizens for transactions that occur within EU member states. The GDPR also regulates the exportation of personal data outside the EU.

Companies work with all sorts of data, but the GDPR only applies to what it calls “personal data.” Identifying which data are personal data and subject to the GDPR will help your company focus its data protection efforts. Unfortunately, defining precisely what qualifies as personal data can be tricky. Hence, there are different criteria, which a business should consider while evaluating the data, which is collected whether it can be categorised as per personal, or not. Benefits of implementation as mentioned below but not limited to the list.

• Prevent data breaches
• Build Customer Confidence in assessed companies;
• Identifying and mitigation of risk
• Avoid fines and penalties