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90% of companies are not prepared for the GDPR deadline

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A quick survey conducted by Baker Tilly Virchow Krause, LLP (Baker Tilly) revealed that 90 percent of organizations do not have the protocols necessary to be in compliance with the General Data Protection Regulation (GDPR) As May 25, 2018 deadline is fast approaching.

Not prepared for GDPR? You are far from being alone

Although large corporations receive the lion's share of attention when it comes to GDPR, the decision affects any size business with an Internet presence providing a service to residents of the city. European Union (EU). And with the penalties so severe, companies should not wait so close to the implementation date to comply.

Small businesses that sell goods and services in the EU or interact with their customers in other forms online must be ready. As long as your company collects, processes, uses and stores personal data from the EU, you fall under the new GDPR regulations. And you will not be exempt because of your location, the size of the company or the type of business. If you do not comply, there is a price to pay.

Fines can range up to four percent of annual global business turnover or 20 million euros (over $ 24 million), depending on the amount The highest. Individuals who suffer damages may also sue the controller, the controller, or both, as well as anyone involved in the supply chain ]

David Ross, a partner at Baker Tilly, said in his release: "… organizations need to put in place proactive, risk-based monitoring and compliance measures as part of a comprehensive cyber security program. confidentiality. "

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Getting ready means understanding what the GDPR is and knowing what data it covers. It governs the personal data of people from the EU, including citizens, residents and visitors, as well as EU citizens living outside the Union.

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The data that she covers are basic identity, the web, health and genetics, biometrics, mentality, culture, economics and social identity and politics.

According to Baker Tilly, your organization may be liable under the GDPR if you are present in the EU, your customers are there, use suppliers and suppliers from the EU, have a business related to data, make marketing efforts in the EU and your employees, investors or customers are EU citizens.

The company released a recent webinar titled "GDPR: Is Your Organization Ready?" You can watch the on-demand registration here to see what steps your company should take to comply with the regulations.

You can also get all the information on the GDPR on the official EU website here. The Office of the Information Commissioner of the United Kingdom has also published a document (PDF) containing 12 steps you can follow to prepare your business.

Data Protection

The purpose of the GDPR is to protect the data of individuals. The Facebook / Cambridge Analytica revelation has highlighted major flaws in the way personal data is easily made available to third parties. The regulation requires anyone in possession of these data to do everything in their power to protect them.

As Mike Vanderbilt, director at Baker Tilly, explains, "Well-documented privacy policies and procedures, coupled with a documented privacy program, demonstrate that the organization is actively engaged in ensuring compliance." in case of revision of the GDPR. "

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You can take a look at the Baker Tilly GDPR infographic below to help you get started.

Photo via Shutterstock