What is GDPR? Key Facts

The GDPR is a regulation intended to standardize data protection legislation across the European Union (EU) and update current data protection laws. GDPR is based on the principle of good data governance. To achieve data privacy, organizations require ‘privacy by design’, ‘privacy by default’, and ‘accountability’. GDPR took effect on May 25th, 2018 and as a result, organizations, including Malwarebytes, have reassessed their data processing controls and implemented a plan to achieve compliance.

The EU’s General Data Protection Regulation (GDPR) intends to standardize data protection legislation across the European Union (EU) and update current data protection laws.

• GDPR applies to the European Economic Area (European Union states, as well as Iceland, Liechtenstein and Norway).

This impacts every entity that holds or uses European personal data both inside and outside of Europe.

• GDPR is based on the principle of good data governance. To achieve data privacy, organizations require ‘privacy by design’, ‘privacy by default’, and ‘accountability’.

Without undue delay and, where feasible, not later than 72 hours after having become aware of it.

• The law imposes stricter fines on companies mismanaging personal data or failing to appropriately protect it.

Any person who has suffered material or immaterial damage as a result of an infringement of the regulation shall have the right to receive compensation from the controller or processor for the damage suffered.

• GDPR mandates that organizations, including large enterprises, small & medium business (SMBs), and even sole proprietors reassess their data processing controls and implement a plan to achieve compliance.

GDPR took effect on May 25th, 2018.

Complying with GDPR

GDPR compliance involves many stakeholders across the organization. A new role imposed by GDPR, the Data Protection Officer (DPO) is required to work closely with all stakeholders. No single technology or process will deliver compliance across the three regulation pillars – legal and compliance, technology, and data.

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Source: https://www.malwarebytes.com/business/solutions/gdpr/