Getting Ready for GDPR!

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In May 2018, the General Data Protection Regulation comes into effect. This privacy legislation imposes stricter requirements than its predecessor. But unlike that instrument, the GDPR is closed to interpretation by national governments. Its rippling effects will travel well beyond the EU’s borders.

The GDPR casts a wide net, applying to any organization that offers goods or services to EU residents, even if it is based in Canada or the United States. Organizations should ensure that they examine the applicability of the GDPR to their processes. They must consider what operational changes may be needed to reduce the impact of the GDPR across their activities or to fashion compliance strategies. Those violating the requirements could find themselves paying €20 million or 4% of their global revenue, whichever is higher. So, what changes should businesses be looking at?

Complying with GDPR will be a more complex process than many companies understand. Organizations must ready themselves to be at par with the GDPR. Where do they begin? There are several steps that organizations should take to prepare themselves for compliance.

These measures range from organizational to legal and beyond. Companies should expect a holistic effort, involving legal counsel, privacy officers, and technology staff.

For everything you need to know about GDPR, click here for the fact sheet shared with us by xahive, one of our WEConnect International certified women-owned businesses in Canada. Please note that you will need to create a free account to access it.

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