What General Data Protection Regulation means for business

What General Data Protection Regulation means

Mark Thompson, privacy lead in KPMG’s cyber security practice, comments on the approval of the European Parliament‘s position of the General Data Protection Regulation.

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Mark Thompson, privacy lead in KPMG’s cyber security practice, comments on the approval of the European Parliament‘s position of the General Data Protection Regulation (“GDPR”), thus completing its legislative process. He said: 

“It has been a long time coming; with more suggested amendments than any other EU regulation, we are finally there. The EU has finally herded the cats up the hill which sends a firm message to businesses that privacy is at the forefront of the EU’s mind, and organisations need to take action to address their privacy risks. 

“The approach of the GDPR provides a risk based application of a "one size fits all" set of rules across the EU and recognises the different levels of privacy risk associated with SMEs and large global organisations. Privacy will be catapulted up the list of global organisations’ enterprise risks, requiring them to re-evaluate take action.

“For non-EU businesses that trade in the EU, this agreement will require some to re-think some of the activities they carry out in the EU. This makes it much harder to operate certain “global” services and will require them to truly put an EU lens on the business activities which are undertaken in the EU market."

“It’s clear that by the time the regulation comes into play in 2018, for a number of organisations, there will be a lot of work to do.”

ENDS

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