You’re well aware of the feeling of dread that comes over someone when he or she hears that a company’s store of personal data has been breached. They immediately start imagining worst-case scenarios. What have the hackers gotten access to – Social Security numbers? Credit card info? E-mail addresses? Dates of birth?
The compromised company feels a similar sense of fear. Hits to both its bottom line and its reputation are inevitable. That’s why governments have begun implementing rules for organizations to follow, like the European Union’s (EU) General Data Protection Regulation.
Soon, all organizations handling EU citizens’ personal data must comply with the new EU General Data Protection Regulation. Noncompliance will cost up to US$22 million or 4% of annual global turnover, whichever is greater! The impacts on how data is collected and processed are significant, and time is short to overcome the complex challenges ahead. To comply, you’ll need to know how the GDPR defines personal data, where it’s located in your business, how it’s used, who can access it, and much more. Learn how data management software can help at all stages of the data protection life cycle.