GDPR data security compliance: You have one year to prepare
Have you started your preparations for General Data Protection Regulation (GDPR) compliance? GDPR was recently ratified to strengthen and unify data protection for all European Union (EU) residents—whether their data resides in the EU or not. GDPR is applicable to almost every organization worldwide that collects or processes data on EU residents, including those not based in Europe and even those without any European operations.
Many organizations underestimate the amount of EU data they hold, and therefore may not understand the potential effect of GDPR legislation. For example, EU resident data may be stored in everything from information technology (IT) systems and portable media devices to spreadsheets and email archives. Companies must examine data privacy protocols for primary sources of client data, as well as all other sources and forms.
The new GDPR rules will significantly disrupt how organizations store, manage and process personal data. Substantial financial penalties and reputational damage may be incurred for noncompliance, up to €20M or 4 percent of an organization’s global revenue, whichever is higher. Register for RSM’s June 29 webcast today to:
- Understand what GDPR is
- Hear how it may apply to you
- Learn how to develop a road map for compliance
View this webcast to understand the complexities of this new regulation and how you can prepare. The enforcement date is one year from now and all affected organizations must take immediate action to develop a response to the new requirements.