Why is GDPR an issue for the Channel Islands? | KPMG | QM

Why is GDPR an issue for the Channel Islands?

Why is GDPR an issue for the Channel Islands?

The transitional period for the EU General Data Protection Regulation (GDPR) is already underway and it will become enforceable on 25 May 2018

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The transitional period for the EU General Data Protection Regulation
(GDPR) is already underway and it will become enforceable on 25 May 2018.

GDPR protects personal data relating to all European (EEA) citizens and
its extra-territoriality affects all organisations holding or processing such
personal data, whether or not they reside within the EU. Guernsey and Jersey
are also intending to adopt equivalent legislation to GDPR later this year.

Whilst some of the implications associated with GDPR still need to be
codified into legislation, we are already aware that headline fines will amount
to €20m or 4% of annual turnover. Its implementation perhaps comes at a
poignant time given heightened risks from cyber breaches.

All Channel Islands based organisations need to urgently consider their
compliance with GDPR from the perspective of controlling, as well as
processing, personal data. They need to consider:

  • how personal data is controlled and processed in their organisation
  • how personal data is held across their legacy systems and their different operating locations   
  • what gaps exist to achieve compliance with GDPR and local legislation
  • how the gaps can be addressed in a risk based and cost efficient manner

KPMG is the clear choice

We are already helping Channel Islands clients’ with the essentials of GDPR and turning data privacy into organisational strategic advantage.

Our engagements are performed collaboratively in order to leverage existing IT / digital systems and capabilities, being mindful of wider considerations such as cyber security and organisational culture.

Our toolkits and practices are proven in numerous GDPR related engagements and we know typical challenges in GDPR programs and how to overcome those.

We deeply understand the Channel Islands business environment and underlying business processes and can draw insights from our global Data Privacy Practice to enhance local solutions.

For more information on how we can assist, please contact us

The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

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