Financial Services Ireland

GDPR: Data protection and privacy

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The General Data Protection Regulation (GPDR) is a global game changer. No organisation storing or processing the personal data of EU residents can afford to be complacent. Regardless of location or maturity of privacy controls, businesses need to be rigorous in data protection and their adherence to the rules. These include:

  • Reporting of data breaches within 72 hours.
  • Privacy-by-design principles included in the development of new processes and technologies.
  • Explicit and affirmative consent before processing personal data.
  • Designating a data protection officer.
  • Maintaining records of processing activities.
  • Scaling and escalating security measures based on privacy risks.

GDPR brought with it harmonisation of fragmented data protection laws across EU member states. But its wide-reaching impact and stringent rules require fundamental organisational shifts.

There are steep financial penalties for non­compliance and data losses – fines of up to €20 million or 4% of global revenue, whichever is higher.

When added to the cost of reputation damage, sanctions and remediation, the risk of inaction is clear. But you can take a strategic approach to GDPR, and we are here to help you.

Our risk-based, multidisciplinary approach targets GDPR investment where it matters most. We prioritise regulatory compliance and competitive advantage. With our extensive privacy knowledge, experience and expertise, we help to identify the risks and deliver a roadmap for compliance and beyond. Contact us today.

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