General Data Protection Regulation (GDPR)
What you need to know ?
Understanding the Privacy Policy updates?
You?ve been bombarded with Privacy Policy update notifications while visiting a website or receiving an email. You?ve noticed it has to do with the new European Union (EU), General Data Protection Regulation (GDPR).
So, what is GDPR?
As of May 25, 2018, the Data Protection Directive (DPD) replaced the UK Data Protection Act of 1998 with the new European Union Regulation.? The change involves the protection of personal data and the rights of individuals in the EU.
- Noncompliant GDPR companies are subject to fines.
- GDPR violations start at four percent of global annual revenues up to 20 Million Eurodollars (?) or approximately 23 Million US dollars (USD).
GDPR enforcement includes cloud-based companies, SaaS platforms of a Data processor or a Data controller.
- Data controller is the entity that determines the purposes, conditions, and means of the processing of personal data.
- Processor is an entity which processes personal data on behalf of the controller.
Who should comply with GDPR?
Compliance is worldwide. If you market or do business with EU users, consumers or customers ? it?s critical to understand the need for privacy compliance.? Based on the type of business conducted and how you use the personal data of EU individuals – precautionary measures are necessary.
- Your first course of action is to update your privacy policies as a minimum.
Contact ITensure ?and schedule a complete assessment to determine what your company needs for GDPR compliance.? Our offices will implement the changes without disruption to your existing day-to-day business.
