GDPR Compliance Services
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Regulation) was adopted by the European Parliament as of April, 2016 which can be treated as a replacement of an outdated directive of year 1995 relating to data protection.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.
