General Data Protection Regulation- (GDPR) refers to the regulation for the privacy of personally identifiable information of European citizens and residents. it is the toughest privacy and security law in the world. it was drafted and passed by the European Union (EU. The regulation came into effect on May 25, 2018. The GDPR levies stern fines and penalties against those who violate its privacy and security standards.
GDPR 7 Principles and Requirements- There are two key areas which need to be considered in order to satisfy the requirements and for becoming fully compliant with GDPR.
First of all, the seven key principles around which the specific requirements of the GDPR are based. Then there are the individual rights which ensure that data subjects are aware of how an organization handles both data privacy and data protection. Our consultant team possess extensive knowledge and vast experience in the GDPR domain and ensures that all the principles and requirements of GDPR are satisfied to be fully compliant with it.
With the GDPR, Europe is signalling its stern stance on data privacy and security at a time when numerous people are entrusting their personal and confidential data with cloud services and security breaches are a daily occurrence. The regulation is large, and far-reaching in specifics, making GDPR compliance a daunting prospect, particularly for small and medium-sized enterprises (SMEs).
The maximum penalty for non-compliance is 4% of annual revenue or €20 million, whichever is higher. Lower fines of up to 2% are possible for administrative breaches, such as not carrying out impact assessments or notifying the authorities or individuals in the event of a data breach.
Don’t wait until it’s too late – Contact GRC360 today to learn more about our GDPR services and how we can help you secure your business. Our consultant has extensive experience in helping clients to achieve EU GDPR Compliance.
Key Business Benefits of GDPR Compliance: