In Europe, all businesses that utilize networks and information systems must comply with the General Data Protection Regulation. The new law applies to all companies in Europe and foreign markets selling products to European consumers. A consultant assists company owners in preparing for the changes and avoiding penalties.
Managing the Export of Consumer Data
The regulation applies to the exportation of customer data as well as saving it locally. It also defines how the personal data is handled by companies and stored. All provisions of the regulation must be followed at all times to avoid hefty penalties against the company. All data transmissions should be encrypted to prevent third-party access.
What to Do When a Breach Occurs?
The first step is to report the breach to the local authorities immediately. The consumer whose information was extracted or stolen is also notified of the breach. Federal authorities mitigate risks associated with the breach and attempt to prevent further ramifications of access. If the consumer incurs a financial loss, the company is fined for the violation and must pay up to four percent of their annual earnings.
What are the Requirements for the GDPR?
The regulation requires encryption of all data storage devices including but not limited to servers, workstation hard drives, databases, and any external hard drives. All backup media storage devices must also be encrypted to prevent data access and extraction. The company’s network must be connected to a high-speed connection with adequate encryption.
Strong key management is added to the information system and payment terminals to delete files for consumers who don’t want their data stored. The encryption for the terminals must reduce the potential for credit card number exposure as well.
What is the New Role of Businesses in the GDPR?
The companies are to process consumer data only when authorized. All data must be maintained for accuracy, and security must prevent a compromise. Steps are taken to minimize the exposure of consumer information.
In Europe, all businesses must comply with new federal regulations for handling personal data for consumers. The new laws impose fines against business owners who don’t keep the data secure. Any security breach that occurs is reported to proper authorities. Business owners who need more information about a GDPR solution contact a consultant now.