If 2017 felt like it had a lot of talk about GDPR compliance, it did. Unfortunately for many organizations, that’s as far as it has gone. But with the May 25 compliance deadline now just around the corner, 2018 must be a year focused on more than talk; it’s time to take action.
With only 25% of U.S. companies reporting they’re aware of GDPR’s effects on their business—and just half of European companies reporting the same (via NTT Security)—it’s quickly becoming “crunch time.”
And those who fail to meet GDPR compliance may face hefty fines. Included among these are some that smaller companies can’t afford to pay:
Failure to Comply / Technical measures = up to an amount that is the GREATER of €10 million or 2% of global annual turnover (revenue) from the prior year.
Data Breach / Key provisions = up to the GREATER of €20 million or 4% of global annual turnover in the prior year.
GDPR compliance will be a top priority for many companies in 2018. And with just a few months to tackle compliance, it’s important to understand what GDPR is, how it affects your business, and more importantly, what you need to do about it.
To help guide you on your journey to compliance, check out our latest whitepaper, Protecting Your Data Under GDPR. It includes:
GDPR compliance criteria:
- A detailed explanation of new data protection liabilities as defined under GDPR
- A summarization of the most important articles and how they affect your business
- Six critical steps you should be taking right now to meet GDPR compliance and protect data throughout the technology lifecycle