Complying with the EU's new data protection regulation
The European Union General Data Protection Regulation 2016/679 (GDPR) will significantly change the way many organizations manage personal information. Under this new data protection act, EU residents may request to know what data about them is held by organizations anywhere in the world. They may also withdraw consent for this data to be used, at which time organizations have up to one month to destroy the information.
Penalties for noncompliance with the General Data Protection Regulation will be hefty. Organizations may be fined more than £20 million or 4% of their total yearly worldwide revenue, whichever is higher. Since this data protection law will represent a sea change in the way many companies manage information, the EU has set May 2018 as a deadline for GDPR compliance. As that date approaches, many organizations are seeking tools that can help to reduce the cost and complexity of working with this data protection regulation.