GDPR
The GDPR (General Data Protection Regulation) was adopted by the European Parliament as of April, 2016 which can be treated as a replacement of an outdated directive of year 1995 relating to data protection. This regulation is said to be coming to effect from 25th May, 2018. It incorporates measures that the businesses need to take on, so as to protect the personal (sensitive) data and thereby maintain privacy for the EU citizens. So, GDPR moves in here in order to regulate all the transactions that happen within the member states of EU as well as the personal data that has to be exported to places outside EU.
According to reports that included a survey conducted for 7500 customers in multiple countries, the top concern of the respondents was the loss of their data concerning banking and finance. Following it was the concern of loss of security related information like, passwords and information pertaining to identity such as, driving license or passports.
There was also an alarming statistic that came up in the report for the companies dealing with costumer data where, respondents (about 62 percent) revealed that they would have the blame put on the companies for their data loss during the time of a breach rather than the hacker who did it.
The types of private data which the GDPR would protect include primary identity information (like, name, address, ID numbers), web data (like, location, cookie data, IP address, RFID tags), health and genetic data, racial or ethnic data, sexual orientation, biometric data and political opinions. It is a mandate that any organization (or company) which either stores or processes sensitive information of the EU citizens within the states of EU should adhere to GDPR, even though they don't have any business presence within EU.
The sectors that would be affected the most by GDPR are as follows; technology (53 %), inline services (45 %), software companies (44 %), financial services (37 %), online services or SaaS (34 %) with retail or consumer packaged goods (33 %). With respect to any sort of non-compliance, GDPR instructs for levying steep penalties that can go up to 20 million or 4 percent of the global annual turnover, whichever is higher.
GDPR stands for General Data Protection Regulation. It is a privacy law which has set some
guidelines that every organisation has to follow if they are collecting, processing or generating
Personally Identifiable Information of EU citizens.
GDPR requires that the PII is processed in a secure way to avoid any breach of data. Hence, it is
important to regularly test all the systems, assets, applications or any other facility that stores
and processes PII for loopholes and weakness. This can be achieved by performing VAPT
periodically.
SOC 2 designed by AICAP for the organisations that provide services to users. It requires for an organization to follow one or more set of trust principles out of 5, Security being the mandated one. These trust principles can be accomplished by the internal controls associated with each one, in order to fully comply with them.
GDPR stands for General Data Protection Regulation. It is a privacy law which has set some
guidelines that every organisation has to follow if they are collecting, processing or generating
personally Identifiable Information of EU citizens. GDPR has a specific set of rules that an organization must follow for the secure processing of PII. It also gives users a certain level of rights when it comes to their data. It requires full disclosure of the information organization is capturing, why and for how long.
Any application that collects, processes and stores PII of EU citizen should be compliant with GDPR law. To ensure that the application is GDPR compliant following key points should be strictly followed.
Any application that collects, processes and stores PII of EU citizen should be compliant with
GDPR law. To ensure that the application is GDPR compliant following key points should be strictly followed.
Any application that collects, processes and stores PII of EU citizen should be compliant with GDPR law. To ensure that the application is GDPR compliant following key points should be strictly followed.
This indicates that being a company (or organization), one must make sure that they are well aware of all the changes coming up and what do the changes mean to you.
In order to start with the process of being GDPR compliant, there must be a sense of urgency which comes down from the top management. In order to prioritize any kind of cyber preparedness, there must be the involvement of an executive leadership. Being compliant with the global hygiene standards in relation to data can be considered as a part of that preparedness.
This indicates that being a company (or organization), one must make sure that they are well aware of all the changes coming up and what do the changes mean to you.
When is GDPR coming into effect? The EU parliament approved as well as adopted GDPR as of April, 2016.
https://www.csoonline.com/article/3202771/data-protection/general-data-protection-regulation-gdpr-requirements-deadlines-and-facts.html
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