What is GDPR?
The EU General Data Protection Regulation (GDPR) is the most important change in data privacy regulation in 20 years and is being put in place to protect people from privacy and data breaches. Under the new GDPR regulations businesses and organisations in breach of GDPR can be fined up to 4% of annual global turnover, or €20m (whichever is greater).
If your business deals with any personal data, GDPR will apply to you, and you will need to evidence that your data is collected and secured responsibly.
Although the UK has voted to leave the EU, digital minister Matthew Hancock MP has confirmed that the UK will replace the 1988 Data Protection Act (DPA) with legislation that mirrors the GDPR post-Brexit.
Any company, big or small, will have to comply with new regulations regarding the secure collection, storage and usage of personal information. Smaller businesses will require different treatment, but there will be several stipulations which means all businesses should make changes now to ensure they are covered.