Thought of the Day: The GDPR deadline is approaching

February 07 16:55 2018 Print This Article

With May 25 looming nearby, it’s time for companies to start thinking about the reality of how the General Data Protection Regulation will affect them. Companies should be well on the way to being compliant in time and implementing the relevant solutions. The new Regulation significantly raises the requirements for data compliance, as well as the associated penalties for non-compliance and breaches.

The new maximum penalties are €20 million or 4% of global annual turnover – up significantly from the current maximum of £500,000. Many factors will be considered when calculating fines, including the nature, severity and length of the infringement. Chances are that initial penalties will be high to set an example to other companies, particularly as investigations are likely to be lengthy and complicated. It is also likely that major data breaches will strike once in a while as they have done in the past. It will be interesting to see how the new penalties will compare to the previous ones for similar breaches.

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GDPR Associates
GDPR Associates

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