When the European Union’s General Data Protection Regulation (GDPR) comes into force on 25 May 2018, it will represent the most comprehensive update to global data privacy regulations in decades. Its aim is to ensure businesses are transparent about, and accountable for, how they handle individuals’ information.
As a result of the new rules, businesses will need to have strict processes in place for how they collect, store and use personal data in the course of their commercial activities. If they don’t comply, companies could be fined up to €20 million or 4 percent of global turnover, whichever is higher.
Although the European Union developed the rules, Asia Pacific businesses likely will need to meet the GDPR’s regulations if they have a presence, offer goods or services or monitor individuals’ behaviours in the EU.
To help APAC businesses prepare for this shift in regulation (and avoid those stiff penalties!), American Express Global Business Travel (GBT) has developed a report entitled “European Union’s General Data Protection Regulation: A Guide for APAC Companies.” In it, you’ll find tips on how to:
- Create a data inventory
- Keep international transfers compliant
- Effectively manage data protection risk in the supply chain
- Appoint a data protection officer
- Effectively triage data breaches
To read the entire report and how to plan for these changes ahead, fill out the below and click the “submit” button. And for a quick reference sheet on how your company can prepare for GDRP, click here.
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