The General Data Protection Regulation (GDPR) is most likely to be implemented from 25th of May 2018. It is going to replace the older Data Protection Act of 1995 implemented by the EU State members. This act proposed by the European Commission is drafted to add strength and unite the Data protection for each individual within the European Union and also addressing the external export of any personal data.
All the companies and institution in the UK will now go to comply with the new GDPR regulation and it is going to be mandatory for these organizations to understand well the requirements of GDPR and prepare themselves well in advance to avoid itself from paying any hefty penalties.
Any kind of policy breach taking place within the regulation while data collection, data handling, or while maintaining any personal data is very damaging to the reputation of the company and further results in losing the trust of the stakeholders.
With the implementation of this new data protection Act, it will have a wide-reaching implication on the data handling and there will a significant shift in the way process which the organizations used to follow to protect the person or company’s data.
The GDPR has endowed the Data Subjects with certain rights which includes the “Right to Judicial Remedy”. This right can be exercised in case any organization encroaches the privacy of the Employee Data. With this Act, the organizations are obliged to take effective measures which include Technical and Organizational measures to protect its Employees Data.
There are multiple features of the GDPR that gives considerable time to some organization in order to achieve the total compliance as per the GDPR. This outlines a long array of governance, risk, and assurance abilities.
These data breach in Data handling is on the rise. We get to read about it quite often through the newspapers and other media sources. In some cases, it is the accidental breach and in another case, it is done deliberately. Whatever may be the reason any such loss in data adversely impacts the large financials of the company and needless to say its reputation as well.
Quite frequently the organizations had been playing hide and seek with the data security protection. It only due to the high profile data breaches taking place that the industry regulations have geared up to ensure that all the organizations have to strictly follow the data protection regulations for safeguarding their personal data.
In continuation with the older EU GDPR which was adopted in the 2016 on 27th of April and which will be now implemented on May 25th 2018 any organization which is handling the data of the EU citizen can be expected to be fined up to €20 million or 4% of global annual turnover for the preceding financial year i.e. whichever is greater. They will be expected to maintain data as long as it is necessary and will have to identify the affected individuals within a period of 72 hours in case of breach of data.