Multi-million-pound fines possible

Mar 29, 2018 | Uncategorized

Businesses must prepare for the new data protection rules that will come into force in just a few weeks – or they face the prospect of multi-million-pound fines.

Dyke Yaxley Director, Marie Bramwell, said the new General Data Protection Regulation (GDPR) would take effect on 25 May, so businesses needed to act fast.

The rules will require any organisation that handles the personal information of anyone living in an EU member country to take greater responsibility and ensure the details are protected.

“Your company will also be required to have verified proof of such protection too, so it’s vital that you don’t ignore the regulations.”

Marie said under the new rules, companies must be accountable for their data usage, and must set out strict procedures for processing personal data.

“The new regulations apply to processing carried out by organisations operating in the EU, and also to those offering goods or services to individuals who live in the EU.

“The UK’s decision to leave the EU will not affect the introduction of GDPR, so your business will still need to comply, and it’s essential that you prepare carefully.”

Marie said businesses should review their data privacy and security practices, to help ensure their systems were compliant.

“You may also decide to provide GDPR training for your employees, and review your procedures over client consent – if necessary, you should request fresh consent from your customers so that you have proof they are happy for you to keep their records on file.

“The financial penalties for failing to comply with the rules are huge, with fines costing up to 20 million Euros, or up to 4% of your company’s total annual worldwide revenue, whichever is the greater.

“So you can’t afford to ignore the new rules, and the clock is ticking – they will be here in just a few short weeks, so it’s time to act now.

Dyke Yaxley Director, Marie Bramwell

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