GDPR is Coming: Consider Auditing for Compliance
May 4, 2018
On May 25, 2018, the European Union General Data Protection Regulation (GDPR) goes into effect. It is easily the most significant European privacy and data security regulation to be implemented in nearly 20 years and has a significant reach: GDPR applies to any company that collects data on all individuals within the European Union, including Switzerland.
Compliance with GDPR is required no matter where a company is physically located. It covers numerous data protection principles and requires companies to have and implement rigorous policies and procedures that promote compliance. The GDPR imposes significant fines for non-compliance, authorizing authorities to impose fines of up to EUR20 million or 4% of annual global turnover (whichever is higher).
Audit for Compliance
U.S.-based companies are encouraged to carefully audit their data collection and use practices to determine whether compliance with GDPR is required.
We Can Help
If you have not yet taken proper steps to prepare for GDPR, Maslon is ready to help. Whether through advising on an audit process or building the required policies and procedures, our attorneys can help ensure your company takes the necessary steps to comply with the GDPR.
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