The European Union General Data Protection Regulation (GDPR) becomes fully enforceable on May 25, 2018.
According to recent surveys, about 60% of companies polled are going to miss the deadline; it’s a sobering number considering how severe the fines and penalties could be for companies found to be non-compliant in the aftermath of a security breach. The reality is many businesses still do not understand what compliance with the GDPR really means.
With perhaps a few exceptions, every business that collects personal data from customers, clients, and vendors based in the EU is going to experience a security breach where that data is exposed, comprised, and/or stolen.
No security protocol is perfect, and data breaches are a fact of life in the modern business environment. The most important thing to remember about complying with the GDPR and other data protection laws and regulations is that effort counts. Enterprises that can show documented proof that good-faith effort toward GDPR compliance has been made and, that data protection and privacy policies, protocols, and procedures are in place, will have a much better chance of avoiding fines, penalties, and financial hardship when the next security breach occurs.
Avoid a breach in your corporate governance processes occurring.
Read here about 10 specific things your business can and should do in preparation by the GDPR compliance deadline of May 25, 2018.