How To Comply With The GDPR
If you are responsible for managing your company's data, or for advising those who do, I hope you've been paying attention to recent workings of the European Commission. Last May it passed a new regulation that changes how the personal data of EU residents must be managed, worldwide.
Called the General Data Protection Regulation, or GDPR, it automatically goes into effect on the second anniversary of its approval, May 2018. Fines for non-compliance can be as high as 4% of a company's total worldwide revenue, or 20 million euros, whichever is higher.
That's high enough to put Walmart in the red, or drive a smaller company completely out of business. And given the burden it places on data managers, you will need every bit of the remaining 20 months to analyze and remediate your compliance gap.
What is the GDPR? According to Wikipedia, it's a "Regulation by which the European Commission intends to strengthen and unify data protection for individuals within the European Union." I won't try to interpret most of the details here. You'll find plenty of sources for that. My focus is on what you, as a data manager, need to know...
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