Tag Archive: GDPR

How Vendor Risk Management Can Impact Your GDPR Compliance

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Risk exposure is indiscriminate, regardless to the size of the company. Now that GDPR is in full effect, organizations should be engaged in activities to display compliance. This includes implementing a solid vendor risk management program to identify, track and monitor your company’s risk exposure. Under GDPR your company could face fines, penalties and other possible legal ramifications.   To prepare for GDPR, organizations should have overhauled critical business operations, one being their vendor risk management program. The expressed language in GDPR regarding data controllers and processors is very clear, you are liable if one of your third party’ processors encounters a breach that leads to customer data being compromised. The illustration below provides a high-level overview of the applicable…

The most important part of GDPR compliance

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With the May 25th deadline for GDPR compliance now long gone, is your organization currently in compliance? If your answer is “no,” take heart: You are not alone. Most CIOs report that, when this sweeping new privacy-and-security law takes effect, their enterprise will not meet its mandates. Many say they are confused about exactly what they must do to avoid the heavy penalties—and loss of reputation—they may face as a result. Granted, a regulation with 99 directives can be intimidating. But non-compliance with the GDPR is not an option, not for those wanting to do business with people and companies in the EU. The penalty, if you do not comply, may be steep: up to 4 percent of annual global…

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Here’s what GDPR means for your business

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The term “business as usual” takes on a whole new meaning May 25, when the European Union’s General Data Protection Regulation (GDPR) goes into effect. This complex, game-changing law will mandate new ways of doing business in virtually every area of operations, from human resources to marketing, to technology and cybersecurity. In fact, according to a PwC survey, 92 percent of U.S. companies consider preparing for GDPR compliance a top priority. Is your enterprise ready? The first-ever global privacy and security law, GDPR outlines new rules—99 of them– for protecting EU citizen data. These provisions: Broaden the scope of the term “personal data”; Grant EU citizens absolute rights over their personal data, including the “right to be forgotten”; Set stringent requirements…

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