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By: Tim Foley
Table of content
The clock is quickly ticking down to May 25, 2018 when the European Union begins enforcement of the General Data Protection Regulation (GDPR), the largest data protection act ever conceived. Why should you as a U.S. company care, right?
GDPR affects any business that houses the data of EU citizens or residents regardless of the country in which that business resides.
It may be intimidating, but here’s the info you need to know to get ready:
Signed into law in April 2016, this monumental data privacy and protection act is a set of data regulations that allow European Union (EU) citizens to have more control over their personal data.
It affects all companies in the EU and any company that offer goods or services to, or monitors the behavior of, EU citizens and residents. It affects all companies processing and holding the personal data of EU citizens residents regardless of the company’s location.
Many types of data fall under the umbrella of GDPR, including:
If you read the official GDPR legislation (a real page-turner), you’ll notice many different roles involving “data”. Below is a list of the key players involved in the protection of data:
The fines for non-compliance are massive and are delivered in a tiered approach depending on the violation.
Alternatively, the GDPR also allows the supervising authority to take a range of minimal corrective actions, including:
Although it is a trailblazing regulation with massive fines that loom over businesses around the globe, achieving compliance will not only help you avoid those fines, but also improve your business. Here’s how:
There’s no magic bullet to achieve compliance. It’s a combination of many security best practices, including staff security training, incident detection, Personally Identifiable Information (PII) compliance, and sound backup retention polices.
There are hundreds if not thousands of resources online you can sift through to find out how you can prepare yourself for May 25. However, we’ve studied it and understand this is the most comprehensive legislation regarding cyber security. We cannot only help you understand it, but also help you get ready for it. Through endpoint protection, incident and breach response, security training, Security Information and Event Management (SIEM), Security Operations Center (SOC) monitoring, and compliance assessments, we can help eliminate your worry regarding this sweeping legislation.
Spiceworks conducted a survey of nearly 800 IT professionals in the U.S., U.K., and EU to determine how prepared they are for GDPR. Based on their findings, only 9% of IT professionals in the U.S. felt informed about GDPR and its impact on businesses. There have been several similar studies done within the past year to evaluate how ready businesses are for GDPR, and based on the collective results, it’s safe to say many businesses around the world will not be ready in time.
However, with so many businesses affected, we believe that enforcement of GDPR initially will be selective at best. If you know you are bound by GDPR, it’s important to work toward compliance; however, it’s unlikely EU data protection authorities will bust down your door on May 25 to check.
Read the second part of this blog focusing on the spirit of the law and the Four Cornerstones of the GDPR.
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