Is your company ready for the EU General Data Protection Regulation (GDPR) in 2018?
In the next seven months, the EU General Data Protection Regulation (GDPR) will take effect and will have a huge impact on businesses around the world.
So, if you are working for a business outside EU but holds or process any form of EU customers data for any purpose. The next 3 minutes of reading this email will provide you some clarity on why this is important and what actions should you take
1- What is GDPR anyway and how this regulation impact to us?
After four years of deliberation and debate the GDPR approved by EU Parliament on 14 April 2016 and directly application in all members states on 25 May 2018. GDPR aims to protect the privacy of EU citizens, specifically their “right to be forgotten”
Every business in and out EU have to comply if you:
- Sell goods or services to EU citizens
- Operate a website that uses technologies like cookies to monitor people based in the EU
- Employ any residents of the EU
- Collect any sort of data that may include information
2- What is the consequences if my company doesn’t want to comply and how to prepare for GDPR compliance?
- For business inside EU:
Breaching GDPR will result in fines of up to 4$ of your annual global turnover or 20 million Euros and 2% for lesser offense
- For business outside EU:
If you have EU customers, employees or monitor EU citizens through your websites then GDPR still apply to you and the consequences will affect to e-commerce, service businesses that trade across the borders.
We are Idealogic Vietnam – a international cyber security company and we provide full cycle of data protection for business in Vietnam and SEA
We are looking forward to discuss with you about this unavoidable situation.
Read more :
Vietnam government data protection board : https://goo.gl/wWr8Xp