GDPR and the End of Reckless Data Sharing
Originally posted: https://www.securityroundtable.org/gdpr-end-reckless-data-sharing/ The European Union’s General Data Protection Regulation (GDPR) will put every company with a digital strategy at risk of significant financial penalties. Any company that processes any personal information on EU citizens—whether as customers, employees, or business partners—and fails to comply, could face fines up to four percent of their annual global revenues, as well as severe reputational damage. And compliance will require much more than simply encrypting this data. The GDPR, which kicks in on May 25 of this year, harmonizes national data-protection laws within the EU. It seeks to ensure that personal data is protected against misuse and theft and gives EU citizens control over how their data is used. Most companies today are at risk of non-compliance, since few, if any, actually have full control over their customer’s data. While many organizations have made strides in protectin