Today, we will talk about the GDPR (General Data Protection Regulation) that will be going into effect on May 25, 2018. It was created in the European Union to provide individuals with enhanced control over their personal information. GDPRstandardizes data privacy laws while increasing the transparency with which organizations approach this issue.
So, let’s ask this question: Does this apply to your business in the USA? Answer: YES! Let’s learn more about GDPR.
At its core, the GDPR makes a bold claim: “The protection of natural persons in relation to the processing of personal data is a fundamental right.” Operating under the assumption that data collection and processing are the backbone of modern business, GDPR sets out to shield that data from bad actors along every step of the information superhighway. Backing up that move are steep new fines for any data privacy breach: up to 20 million Euros or 4% of a company’s total global revenue.
Most American laws and regulations favor businesses over consumers, but for decades the European Union has subscribed to a more consumer-first perspective. Now, GDPR will attempt to set a global standard on data privacy. The United Kingdom, which voted last year to leave the European Union, will implement its own Data Protection Bill that largely matches GDPR guidelines.
It will take time for precedent to be set in terms of GDPR adoption in the United States and Canada. But a PricewaterhouseCoopers survey in early 2017 found that more than 90% of American C-level executives considered GDPR compliance “a top priority” on data privacy and security agendas. A survey conducted in late 2017 by the International Association of Privacy Professionals found that 84% of US respondents expected to be prepared for GDPR by May 2nd. So American companies are paying attention.And that makes good business sense. Data can be transmitted around the globe in seconds, and under GDPR regulations, EU citizens will be protected no matter where their data travels. What does that mean? If any company anywhere in the world maintains a database of information including that of EU residents — or uses the internet to market targeted goods or services to EU residents — that information is bound by GDPR rules. American companies with a global focus (think hospitality, travel, software, and e-commerce) can either block EU users altogether or implement specific processes to ensure compliance.
Notably, businesses of all sizes must comply with GDPR, which requires that consumers have multiple options for controlling, monitoring, anonymizing, and deleting personal data where desired. Specific and affirmative consent will be required for data sharing, while data breach notification is mandatory within 72 hours of its discovery. Clearer communications, a reiteration of consumer rights, and extra protection for children is also included in GDPR’s recommendations.
Does this apply to your business in the USA?
The answer: Yes, if your business sells any services or products on the internet or sells to any European country, or has employees in Europe. If you are dealing with any data belonging to European Union residents, you will have to comply with GDPR.
So, what can your company do to prepare? Consider these basic strategies when contemplating GDPR’s impact on the future of data privacy:
- Work with a trusted IT Professional. Conduct an assessment of your present process to help you identify high-risk areas and fix any problems.
- Conduct staff training and education. Your employees act as your first line of cyber defense. Anyone who handles data can be empowered to enhance security and help the company comply with new privacy requirements.
- Work with third-party providers who are GDPR-compliant. This includes email service providers, customer relationship management software and outside agencies that assist your company with its data. It’s similar to HIPPArules in the USA.
- Deploy solutions that will make data privacy stronger. Consider some of these tools to protect your data: Data Encryption, Strong Firewalls, Strong Security software (anti-malware, anti-spam, anti-ransomware), regular backups, etc.
Elite Networking & Consulting offers their clients a cloud-based software product that provides a high-end security solution that stops infections from attacking your data, including an Anti-Ransomware module that stops this horrible infection from attacking your computer. This is the benefit of working with an IT Professional.
If you would like additional information on the Security Solution or to have a discussion regarding how GDPR may affect your business, please contact us at Elite Networking & Consulting. Please either call us at 855-767-9685 or send an email to email@example.com.
For more information, please visit this website: https://eugdpr.com/news/common-questions-asked-gdpr/