Many organizations around the world have the European Union (EU) General Data Protection Regulation (GDPR) in their sights. They know that regardless of where they’re based, the regulation affects them if they’re supplying products or services to EU citizens or organizations. And they realize that if they don’t comply, it could cause serious damage. Not only hefty fines and legal costs, but also widespread business damage from a tainted reputation. The GDPR gives every European citizen the privileges to know and decide how their personal data is being used, stored, secured, relocated and deleted.
According to Article 5 of the GDPR, an organization must follow all of the ligations intended to data process and personal data security. A risk-based approach ensures adherence to such principles. But an organization has full control when it comes to the mitigation of operational risks connected to processing of personal data. So, compliance with GDPR standards does not involve merely checking the right boxes. Instead, companies must protect customer privileges through behavioral and cultural changes within the organization.
Data security managers and data processors, both are sharing the same headache; how to become compliant easily and securely without making any trouble for user experience. Without any authorized solution that unifies the notice and consent requirements to GDPR, organizations will be at risk of damaging user experience and exposed to financial and criminal penalties– up to 4% of its gross income or €20 million. On the journey to GDPR compliance, we use different ways to make compliance more manageable: access all your data sources; identify personal data; establish governance model; protect data by encryption, pseudonymization and anonymization; audit data to produce reports to clearly show regulators. All these ways help you to manage the risk exposure of your organization when it comes to data privacy. And guide you as you put in place the technologies, processes and people necessary for sustaining GDPR compliance and managing risk as a whole. What’s more, it can reinforce your business, create deeper bonds with clients, and spur improvement that could have positive, influential allegation for future growth.
Conclusion Any organization based in EU or outside European Union that has access, process, and control or store personal data of EU residents must comply with GDPR. The sole purpose of this law is to control the data theft of EU residents. Any organization that fails to comply with it will be fined heavily under this law.