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"The survey reveals that only 40 percent of organizations confirm they are either GDPR compliant or well on their way to compliance by the May 2018 deadline", says Holger Schulze, CEO of Cybersecurity Insiders and founder of the 400,000-member Information Security Community on LinkedIn which commissioned the study to identify the perspective of organizations on the impact of the new data privacy regulation.
And American companies that handle any European citizen data are bound to comply with laws governing that data, including the GDPR.
New legislation governing use of personal data by organisations, and the rights of individuals, takes effect on May 25. Unlike traditional goods and services, data flows do not respect traditional worldwide boundaries, and the rate of technological change means that data privacy law is always either overly broad or totally out of date.
The GDPR recognizes that businesses have a legitimate interest in collecting and using personal data (for example, for the goal of understanding how visitors interact with a company's website). Certain sections of the GDPR are different to the previous EU Directive, and as a result these sections differ from POPIA as well.
With only very limited time to achieve compliance with the new regulations, it is a matter of setting priorities and following them. Speaking April 8 at the Cyber Security & Content Protection Summit at the NAB Show, he stressed how the M&E sector - which informs its business model around collecting as much personal customer data as possible - will need to be on its toes when it comes to the law.
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Kautter said taxpayers can continue to prepare their tax returns and submit them online as the IRS works to diagnose the problem. It said that the payment service, IRS Direct Pay, was experiencing both an unplanned and planned outage.
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There are also many similarities between POPIA and the GDPR and some concepts and definitions are the same. With data becoming the new oil in today's digital economy, companies need to consider a comprehensive approach while aligning their organisation's information and data management policies with regulatory frameworks. Under the circumstances, it's certainly a good idea to get on the right side of the GDPR rules first. The key change is that consent will require a statement or clear affirmative action of the data subject. Data subjects must be informed of their right to withdraw consent. Under the GDPR, Controllers and Processors will have to maintain records of processing activities.
The GDPR sets the benchmark, and will generally require data that is transferred outside the European Union to have adequate levels of local data protection. This must be evidenced by specific contractual paperwork that meets the content requirements of the GDPR. Additionally, under the GDPR, your organisation will have to disclose any breach within 72 hours of its occurrence.
Similar data breach notification regulations are also contained in POPIA.
The GDPR will also harmonise the tasks and powers of supervisory authorities and significantly increase fines. Penalties for breach of some obligations under GDPR can reach Euro 20 million or 4% of global annual turnover, whichever is the higher, putting GDPR compliance at the very top of the list of concerns for firms in nearly every industry sector. The appointment of a dedicated Data Protection Officer is mandatory. "While it requires businesses to be more vigilant in ensuring they are processing data within the legal requirements, the GDPR will allow for companies to work under one law making it cheaper and easier for them to do business in Europe" he added.
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