What is GDPR?
The General Data Protection Regulation (GDPR) is a comprehensive new privacy law that gives residents of the European Union (EU) greater control over their “personal data” (which is precisely defined by the GDPR) and requires organizations to maintain appropriate security of personal data. Failure to comply with the GDPR could result in significant penalties.
Who needs to know about the GDPR?
The GDPR applies to companies, government agencies, non-profits, and other organizations that offer goods and services to EU citizens and residents or that collect and analyze data tied to EU citizens and residents. The GDPR applies no matter where your organization is located.
When will the GDPR come into effect?
The European Parliament, Council of European Union, and European Commission approved and adopted the GDPR in April 2016 and enforcement will begin on May 25, 2018.
How will the GDPR affect my company?
The GDPR contains many requirements about how you collect, store, and use personal information. This means not only how you identify and secure the personal data in your systems, but also how you accommodate new transparency requirements, how you detect and report personal data breaches, and how you train privacy personnel and employees. Companies can be fined up to €20m or 4% of annual global turnover, whichever is greater, for failure to meet certain GDPR requirements. Additional individual remedies could increase your risk if you fail to adhere to GDPR requirements.
What can you do to prepare?
As we get closer to the May 25, 2018 deadline for updating data privacy security to comply with the GPPR, many organizations are questioning their ability to maintain appropriate levels of personal data security and transparency not only for GDPR, but also other potential regulatory changes in the future. To assist our clients in determining their holistic and GDPR-specific security posture, Valorem is now offering these assessment programs:
Failure to comply with GDPR could put your business at risk for substantial fines. Valorem’s experienced security professionals help you evaluate your GDPR readiness and map the necessary steps to achieve compliance.
- Identify GDPR implications on your organization’s security structure
- Investigate tools to help you identify and locate the personal data you have
- Uncover compliance gaps and create a plan to achieve compliance
Even if GDPR is not an immediate concern for your organization, cybersecurity should be. Valorem offers an in-depth review of your holistic security posture to evaluate your entire security environment and help you build a scalable security strategy and comply with security regulations that are relevant to your organization.
- Identify security gaps putting you at risk
- Strategize technology, process and procedure needs to mitigate risks
- Determine actionable next steps to secure your environment
- Create a short-term and long-term strategic plan for getting to your desired end state
As we move to a cloud-first, mobile-first world, preparing your organization with security capabilities to support innovation and change will be crucial in facing next-wave disruptors. Valorem specializes in delivering digital strategies with proven cybersecurity frameworks that transform businesses into the modern digital workplaces of tomorrow.