Becoming GDPR Compliant: Quickly, Effectively and Risk-Free

February 27, 2018 White Papers

The abbreviation “GDPR” is becoming more and more often used in offices around the world. “GDPR” stands for General Data Protection Regulation, a new legislation approved by EU Parliament, which goes into effect in May 2018. As the date is approaching, discussions of how to achieve GDPR compliance is the hottest topic right now.

Generally speaking, the main goal of the new legislation is protection of freedoms and rights of all individuals that are located in the territory of European Union regardless of their citizenship. It builds up on previous pieces of data protection laws and presents a more thorough approach to the issue. GDPR takes into account accelerating world of international e-commerce and offers a more detailed and up-to-date set of norms for handling personal data of company’s client base.

In many aspects, General Data Protection Regulation shifts the way we handle data and most importantly grants new powers to data subjects. It’s necessary to emphasize that GDPR covers the protection of data of all individuals that are located in European Union. In practice, it means that every company, which collects data in European Union, must comply with the Regulation, even if company itself is not present in EU. Given the circumstances, it’s safe to say that the GDPR makes a worldwide impact on how companies will handle data protection. It’s also worth mentioning that expected penalties for those who won’t comply with the GDPR are rather impressive – maximum penalty equals 20 million euro or 4% of annual worldwide turnover, whatever is bigger.

In such circumstances, every company should develop a cohesive risk management strategy and, most importantly, a compliance plan. Such compliance plan is an essential part of smooth transition that enables you to tackle all aspects of transformation in accordance with the requirements. It minimizes the risk of misconceptions and organizes the process in a comprehensive and achievable timeline.

Our company Intetics has already successfully adjusted to the new regulation and became fully compliant with GDPR. We would like to share some of the key points that would help your company to become compliant by May 2018 as well.

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