GDPR Compliance Without Stress
Time is running out for businesses to ensure they are fully compliant with soon to be enforced GDPR (General Data Protection Regulation), a new regulation forcing companies to be completely transparent about how they collect data on their online users, why it is being collected, and how they intend to use it.
Designed to protect the online privacy of European Union citizens, the GDPR will not just keep European businesses in line, as its watchful presence will also impose stiff penalties on any business or website with which their citizens can do business.
Whether your business operates within the EU, or a EU citizen can hop onto your website and sign up for a newsletter, the Information Commissioner’s Office’s (ICO) wrathful eye could swing your way if your site breaches the General Data Protection Regulation.
The power of the ICO will extend to all corners of the globe regardless of where your business is headquartered, or where your website is registered. In today’s globally connected world, this means almost every website will fall under the GDPR’s sphere of influence.
Businesses failing to bring websites into compliance are potentially facing hefty GDPR fines which could be financially devastating. Two levels of GDPR fines will be put in place; the first being €10 million, or 2% of annual turnover for the previous financial year, whichever is greater. The next level of GDPR fines doubles that amount to €20 million, or 4% of annual turnover for the previous financial year, whichever is greater.
The ICO will also have the power to instigate a full suite of corrective powers and sanctions to ensure data collection on their citizens remains fair and transparent. This includes the power to issue reprimands or warnings, as well as issue a temporary ban on data processing, ordering the rectification, restriction, and erasure of data, and suspending data transfers to third parties.