EU data protection reforms - a review of the key impacts and how to prepare for them
All businesses must be compliant by 25 May 2018 but should engage with the new legislation now and take steps to prepare for the changes. The consequences of being non-compliant, or of not taking adequate steps to protect against a cyber-attack, will be severe, both reputationally and financially.
The GDPR will replace the existing data protection regime and will:
- lead to greater consistency across Europe;
- impose more onerous obligations on businesses; and
- use the threat of substantial fines (the higher of €20m or 4 per cent of annual worldwide turnover) to make compliance a key issue for organisations.
Our practical guide summarises the implications of the changes brought in by the GDPR and the actions businesses should take now to prepare for them.
Please contact us should you require advice or assistance with ensuring compliance or raising awareness within your organisation.