GDPR: What it is, who it affects, and how to solve it with MDM

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With an MDM, businesses have the ability to accurately identify records related to the same customer and address GDPR issues.
In May 2018, companies that process personal data of EU citizens will have to comply with new legal requirements . The changes required for these companies to comply with the new General Data Protection Regulation (GDPR) may not be easy to implement.


What is GDPR?
GDPR stands for General Data Protection Regulation . Since the 1990s, national data privacy laws have existed based on Directive 95/46/EC (Data Protection Directive) and later completed by Directive 2002/58/EC (Directive on privacy in electronic communications).

However, technology has evolved rapidly, as have individual and business behaviours, and as a result, this directive has become obsolete and now needs to be replaced by the General Data Protection business owner database (Regulation (EU) 2016/679). This new regulation will completely change the basis of how organisations can handle the personal data of EU citizens and this will have significant consequences for the organisations affected .

GDPR was adopted on April 27, 2016 and will come into effect on May 25, 2018, giving organizations a two-year transition period.







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Who will be affected?
GDPR will affect any company that collects and uses data from European citizens, regardless of whether that organization is established in the European Union or not, or whether the processing itself takes place inside or outside the European Union .

As a replacement for the current data privacy directive, GDPR has expanded the scope of privacy to cover data that is stored when an organisation or individual is located in the European Union, as well as for organisations that are outside the European Union but process European citizen data. The definition of personal data now covers a number of areas, including regular personal data, as well as possible items such as photographs and social media content. We also encounter new challenges around the right of citizens to be forgotten and the ability for citizens to demand access to their data . This will require all organisations that handle a lot of personal data, such as those in financial services, to look very carefully at their policies relating to the data they hold on their customers.

New elements will now also be required, such as the need for explicit consent for data collection and use , and severe penalties will apply for data breaches. The maximum fine will now be €20 million or 4% of global annual revenue (whichever is greater). For most organisations this is a very significant amount of money.