Are You Ready for the New Data Protection Laws?
As you may or may not be aware, in June of last year, the EU passed a new data protection law (GDPR) which comes into effect on 25th May 2018. This will have a big influence on the way in which every UK business manages its data.
As I’m sure you’re wondering, yes, this still applies despite leaving the EU. This is because of the impact on businesses should the UK fail to adopt this new EU law.
So what exactly is this new law?
It’s called GDPR (The general data protection regulation), and the main purpose of its introduction is to give people much more control over their personal data. It will do this by giving people the ability to easily find out what information businesses hold on them, why they are holding it, how they are using it, and whether they want them to delete it or not. In conjunction to giving this power to people, the new law will also include a more severe punishment for businesses who suffer data breaches, with a fine of up to 20 million or 4% of an annual turnover now being deemed acceptable.
How can I prepare?
Although there’s still a year to go, it’s always a good idea to be proactive when it comes to making changes to your data protection policies. As well as avoiding rushing around at a later date, you will also get the added bonus of gaining trust and credibility with your customers in the knowing that any data which your business holds is in the safest of hands.