After such a long wait, the EU General Data Protection Regulation or GDPR is finally drafted and set to be enforced in a year – in the wake of the realization that this new regulation affects businesses when it comes to processing and storing personal data, more and more businesses seek for Data Protection Consulting in the hope they will be more prepared in terms of facing their new legal responsibilities as well as in avoiding data breach that may result in a large penalties. But how exactly does this new data protection regulation affect businesses? Read on to find out.
The approval of this new Data Protection Law, henceforth will be referred to as the General Data Protection Regulation, forces businesses to come forward to admit that they need new technology and system to help them in personal data handling and processing as once the regulation is enforced, businesses must agree to be audited and unlike its predecessor, a breach in Data Protection Act means a business must face penalties. These penalties are limited, but with more than 4% of global revenue to be handed over should a breach was found, businesses could face a massive shake up. Not only financially, but also reputation-wise.
Getting your business prepared is not only about purchasing a safer and better data processing system, but also understanding the complex regulation and law. The last one is easier said than done, but when with the best consultant in the field, your business will benefit from their full data protection audits, regular data protection check ups, audits and compliance for privacy and e-communication regulations, and risk analysis. Not only that, many of these consultancies also provide compliance support which typically covers all possible corners of your business namely the marketing compliance, website compliance, HR compliance, and e-commerce compliance.