It is going to take a while for the Indian software firms with businesses in the EU to come to speed with the data protection norms laid out by the GDPR
By the time this story goes to press, GDPR EU 2016/279 – General Data Protection Regulations – scheduled to be live on 25 May – would have come into effect. The stringent and comprehensive data privacy diktat is bound to knock the wind out of many cyber operators (Read: data miners) around the world.
So, why is GDPR under the spotlight world over? Well, under the GDPR EU 2016/279 guidelines, citizens and organisations of EU would get to retain and exercise their right to data privacy. On the anvil are stricter international business norms through ePrivacy as well as NIS directive on cybersecurity. And compliance is a heavily loaded word in the world of GDPR. Here’s why. Any data breach or violation of the laws would attract a penalty imposition by as much 4 per cent of the global revenue of the company or Euros 20 million, whichever is higher for high risk breaches and 2 per cent or Euros 10 million for low risk breaches.
This story is from the May 26, 2018 edition of Businessworld.
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This story is from the May 26, 2018 edition of Businessworld.
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