Mar/Apr 19 - ChannelVision Magazine

The most comprehensive data privacy regulation to date, GDPR is meant to provide consumers with greater visibility and control over their personal data, and to hold data con- trollers and processors responsible for protecting it. Failure to comply with GDPR can lead to hefty fines of up to €10 million (About $11.3 million) or 2 percent of a company’s global annual revenue, while more egre- gious violations can lead to fines of up to €20 million (about $22.6 million), or 4 percent of annual revenue – whichever is higher. GDPR is just getting started, and many companies are still in the process of becoming compliant. Howev- er, it’s clear that progress has already been made since the GDPR first went into effect last year. In a recent benchmark study from Cisco, 59 percent of companies claimed they are meeting all or most of TheYear of GDPR G DPR is a framework that applies to both EU-based companies as well as any global organization collecting data on EU citizens. It’s been almost one year since the EU’s General Data Protection Regulation (GDPR) went into effect on May 25, 2018, drastically changing the way that businesses process data. As we prepare to turn the corner into year two of GDPR, companies are still grappling with its implications. By Gerald Baldino international Agents 84 Channel Vision | March - April, 2019