The EU General Data Protection Regulation (GDPR) is a comprehensive re-write of European data privacy law. However, it not only impacts businesses within the EU itself, but any organisation that collects and uses the personal data of EU residents.
The costs of failure to comply, with fines of up to 4% of global turnover, could easily run into the millions for organisations of any size, not to mention the potential for reputational damage and loss of future earnings. The law is expected to come into force in early 2018, in all EU member countries at the same time, but there is one significant element of the new regime that means you need to act now to prepare.
The reponsibility to demonstrate that you are compliant with the GDPR lies with you, and you could be called upon by the Data Protection Authorities at any time to show how you are applying the law within your organisation. It is therefore vitally important to make sure that not only do you have the right processes, policies, and training in place to comply with the requirements of the GDPR, you need to be able to produce credible evidence at short notice.
The Optanon GDPR Compliance Manager is a new tool being released in 2016 which will provide organisations of all sizes with a robust management process to help you meet your compliance requirements and reduce the risks of massive potential fines.