As a new global privacy regulation is about to impact businesses worldwide, now is the time to become informed and get prepared for the European Union’s (EU) General Data Protection Regulation (GDPR). With personal data at risk, these changes come as an opportunity to turn GDPR into an advantage. Every business process that collects, uses and manages personal data presents an opportunity to reconsider risk management, introduce operational efficiencies, and better protect at-risk assets.
The European General Data Protection Regulation (GDPR) will come into force on 25 May 2018. It aims to standardise and strengthen the right of European citizens to data privacy by emphasising transparency, security and accountability by data controllers.
While many of the themes, high level requirements and language of the GDPR are not vastly different from existing data protection legislation, the GDPR imposes new obligations and stricter requirements on in-scope organisations. The GDPR also includes provisions to impose administrative fines of up to €20 million or up to 4 percent of global turnover (whichever is higher) for certain infringements. If an organisation processes the personal data of people in the EU, or is a data controller or processor established in the EU, the GDPR will apply.
KPMG has composed a comprehensive video series on how your organization can prepare for the approaching GDPR regulation in order to fully grasp the whole topic.
The video series covers: the foundational elements of GDPR, including how GDPR priorities align with privacy compliance efforts, and key lessons learned in navigating the complexities of GDPR. It will help you identify and map the personal data your privacy program will govern, guide you in prioritizing implementation, and teach you how to respond to data subject requests.