“The EU General Data Protection Regulation (GDPR) is the most important change in data privacy regulation in 20 years,” says the EU’s GDPR portal site.
With the legislation coming into full effect on May 25 2018 (that’s just 278 days), organisations should act now to ensure they are not caught short.
The Register reported back in April that last year’s fines by the UK’s Information Commissioner’s Office would have been 79 times higher were GDPR already in effect (£69m instead of £880,500). Article 83 of the GDPR states that fines will be implemented of up to to €20 million or 4% of annual worldwide turnover, whichever is greater – the current maximum fine is £500,000.
Having the right technology stack in place is key to being ready for GDPR. This article on gdprandbeyond.com provides useful information and insights on how to approach this: GDPR: Why now is the time to evaluate your technology stack.