GDPR and its impact on your firm
You will most likely be aware of some of the impending changes under the General Data Protection Regime (GDPR). When this comes into effect for all companies in Europe in May 2018, it will bring stringent requirements for the way that personal data is collected, processed, shared, retained, managed and destroyed.
Personal Data applies to your staff’s data, your customer’s data, and your data with third parties.
How GDPR will impact your firm?
– Fines for non-compliance to GDPR of up to 4% of revenue or Eur20M
– GDPR brings new requirements for obtaining consent for processing your customers and staff data
– Additional data privacy requirements for creating, managing and retaining records relating to customers and staff
– Customers have a ‘right to access’ the records you hold on them, and a ‘right to be forgotten’
– Mandatory data protection impact assessment for all firms
– Notification of data breaches within 72 hours
– Nomination of data protection officer
How to be GDPR ready without stopping your day job
1RS can help you assess your current status against the new GDPR requirements. We can help you plan what you need to change to comply, and we can help you implement.
It can all be done by May 2018, without the need for expensive software solutions, and large teams of people. This allows you to continue with your day job.
- Identify all sources of personal info
- Identify all processes involving the collection and processing of data
- Identify all systems and current data protection controls
- Perform an end to end GDPR impact assessment
- Appoint a data protection officer
- Update your Records Management Policy
- Implement appropriate records classification processes
- Update all customer terms and conditions to comply with GDPR
- Update all processes and systems regarding collection, processing, maintenance, retention and destruction of data
- Provide training to all staff
How 1RS can help…..
1RS can help you assess, plan and implement your GDPR compliance simply and effectively. For more information on how we can help, contact 1RS.