The upcoming General Data Protection Regulation (GDPR) will become law for all EU member states – including the UK – from 25 May 2018.
Naturally, it is essential to pinpoint all the ways in which the GDPR will affect your business – and what you will be required to do in order to be compliant.
The GDPR will:
- Change the ways in which businesses are able to collect and process data
- Increase the number of resources business will need to dedicate to data protection
- Require employees to undertake extensive cybersecurity training
- Limit the way businesses can contact customers via electronic communications
What is the GDPR?
The GDPR is an all-new legal framework which will replace the existing UK Data Protection Act (DPA) in all EU member states in May 2018.
Businesses will be faced with stricter laws and tougher penalties for non-compliance with the new data protection rules.
The key differences found in the new legislation relate to how data is stored and used. Put simply, companies will be forced to maintain records of ‘consent’, while consumers will be gifted the right to be ‘forgotten’.
What happens if my business if found to be non-compliant?
The penalties for non-compliance are incredibly tough. The Information Commissioner’s Office (ICO) can issue fines of up to four per cent of global turnover, or €20 million, whichever is higher.
Under current rules, the ICO is only capable of charging a maximum of up to £500,000.
Breaching the GDPR could be catastrophic to your business. Make sure you act today.
Download your FREE copy of The Fish Partnership’s GDPR guide now!
Get up to speed with the GDPR by downloading our free guide here.
Our helpful guide includes useful hints and tips, such as:
- What you should be doing right now to prepare for the GDPR
- The ICO’s checklist for consent
- An in-depth analysis of non-compliance penalties
- How to report data breaches
- GDPR DOs and DON’Ts
For help and advice on all aspects of GDPR compliance, please contact The Fish Partnership today.