The legislation is very broad and covers many aspects of personal data. This will create new rights and responsibilities for all organisations and raise many questions in relation to data security and compliance.
There has not been a significant overhaul of EU data protection regulations in some time. This, paired with the need to address the major technological developments since 1995, is driving the need to modernize and homogenize the EU Data Protection regulations.
Who is impacted by the new reform
The status of the EU Data protection regulation reform proposals should be of global interest as it impacts any company doing business with European citizens – regardless of where the company is based. This is very similar to US data protection laws.
Benefits of EU Data reform
- One EU market, one law – European and non-European companies no longer need to research and know the details of 28 different rules & regulations.
- Unified process – The same process will be followed in case of breaches and /or violations
- Same rules applies to all companies – regardless of where the companies are based, the same rule set will apply when doing business within the EU.
Major data breaches are commonplace today, putting customers at risk of identity theft and financial loss, and businesses at risk of losing customer and investor loyalty. Fear of government surveillance coupled with news of high profile data breaches pressure and requirements to protect sensitive personal data is increasing.
How to comply with the new Legislation
For the many companies that must comply with the suggested Data protection Regulation reform legislation the best way to prepare is to implement a solid data protection strategy and process that should include encryption in order to be most effective. If you want to be ready for the Data protection Regulation reform you should start looking at encryption technologies.
