What is General Data Protection Regulation (GDPR)?
The General Data Protection Regulation (GDPR) is a regulation that will enforce a stronger data protection regime for organizations that operate in the European Union (EU) and handle EU citizens’ data. GDPR constitutes the protection of personal data of employees, customers and others. In case organizations fail to comply with this regulation, they will be subject to heavy fines and damaged reputation. Considering that personal data represents critical and sensitive information that all organizations should protect, such a regulation will help put in place appropriate procedures and controls to prevent Information Security breaches. By May 2018, all organizations that operate in the EU should comply with this regulation.
Why is the General Data Protection Regulation important for your organization?
Considering that data breaches have become highly sophisticated in the recent years, the need for data protection has increased as well.
Information Security is crucial to the success of any organization since it deals with the protection of sensitive data from unauthorized access, use, replication and destruction. As such, organizations should put in place measures and controls to manage and diminish Information Security risks and comply with GDPR requirements. In case organizations fail to comply with the GDPR requirements, the penalties can reach up to 2% of an organization’s annual turnover. Also, in case of more serious infringements, the penalties can amount to 4% of an organization’s annual revenue. The implementation of a Privacy Framework, on the other hand, will allow professionals to develop and implement reliable controls that are generally accepted.
Becoming a Certified Data Protection Officer will enable you to acquire the necessary expertise to understand the risks that could have a negative impact on your organization and implement the required strategic responses based on the GDPR best practices, requirements and principles.
Benefits of the Data Protection Implementation
GDPR will help your organization to:
- Protect an organization’s reputation
- Minimize security incidents
- Build customer trust
- Retain existing customers and attract new customers
- Facilitate data access
- Ensure a stronger enforcement of rules
- Enable accurate storage of customer data
- Enable adequate access control
Contact us to find out how we can assist you in adapting GDPR to your organization.