GDPR is coming and it could be a disaster for organisations that are unprepared.
Next May will finally see the much talked about General Data Protection Regulation (GDPR) come into effect. That is a data problem, right? Not relevant to you? Wrong – and, potentially, 20 million euros wrong.
In short, as of next May a data breach will not just mean embarrassment and reputational loss for Britain’s businesses and organisations. It will also constitute large fines, 20 million euros (£17.5m) or 4 per cent of turnover, whichever is greater.
The latest stats
Organisations across the globe mistakenly believe they are in compliance with the upcoming GDPR, according to a new study from Veritas Technologies.
A recent poll of 900 business decision-makers around the world indicates that 31% believe their organisations are compliant with the GDPR.
However, when those same respondents were asked about specific GDPR provisions, most provided answers that show they are unlikely to be in compliance. Once inspected, only 2% actually appear to be in compliance, revealing a distinct misunderstanding over regulation readiness.
The results show that more education is needed on the tools, processes and policies to support information governance strategies that are required to comply with the GDPR requirements.
Preparation is key
As with all potential crises, it is all about the preparation. Anticipating, preparing for and having a robust plan of action could make all the difference if the worst happens. A great place to start is with the ICO’s official preparation video.
Following this, we can arrange for the safe and secure disposal of your redundant data bearing assets, providing you with the relevant documentation should you encounter a spot audit.