The Essential GDPR guide for Finance Directors
CEO & Marketing Director from AccessPay sat down with data experts from Manchester-based solicitors Turner Parkinson, to discuss the implication GDPR will have on finance professionals, and what organisations can do to protect themselves from those huge fines.
GDPR is the biggest shakeup in data protection regulation for a decade.
No doubt you’ve heard all about it – the General Data Protection Regulation (GDPR), which came into force in May 2018. It’s a game changer for companies around the world, not just in the EU. If you deal with any organisation that operates within the EU, you’re going to have to comply or risk a large fine AND a lot of bad PR.
With UK Government statistics showing that nearly 7 in 10 UK firms have been hit with some sort of data breach in the past year, the time is now for businesses to take action. Fines for a data breach are some of the largest in the world and are business-changing.
Some business have treated GDPR like it doesn’t matter, because of Brexit and the UK’s exit from the EU. Big mistake – Brexit won’t stop GDPR, the government has already confirmed it. And because GDPR is a regulation and not a directive, it has automatically come into effect on 25th May 2018 without any country-specific legislative changes.
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