GDPR (General Data Protection Regulation) is coming, and it’s in the interests of any business that uses the personal data of EU citizens to ensure their systems and processes are compliant with the landmark regulation before it comes into effect in May 2018. Or else what? Companies failing to do so may incur the wrath of EU regulatory bodies wielding the power to fine businesses should personal data in their possession be wrongly used or accessed. Along with our trusted partners and leader in security solutions, WatchGuard, we can help companies become ready for GDPR and aid you in understanding what the implications of it are for your business.
Who will be impacted?
If your business is in one of the so-called ‘essential’ sectors you’re more likely to be hit with a huge fine. Companies working in industries such as the healthcare, banking and power generation could be at risk of heavier fines, which can measure up to £17m or an eye-watering 4% of their global turnover, whichever’s bigger.
A smaller business, although not as likely to be as heavily penalized due to it naturally having a smaller amount of personal data at risk, will still be fined should data in their possession be accessed by the wrong person, so it’s really in the interests of all businesses, whatever their size, to become GDPR ready.