The General Data Protection Regulation (GDPR) is a European regulation that came into force on May 25, 2018, and governs the protection of personal data. It is one of the most important milestones for data protection and has far-reaching implications for companies around the world that share data with European citizens and other businesses.

The GDPR defines how companies may collect, store and process personal data. It ensures that data subjects' rights are protected by giving them more control and transparency over their data. Companies are required to disclose what data they collect, why they do it and how long they store it. They must also obtain appropriate informed consent before collecting and processing data.

For companies, the GDPR primarily means that they must review and adapt their data protection practices to meet the requirements of the regulation. This can take time, resources and money, but it's important to ensure they meet legal requirements and that their customers retain their trust.

One of the biggest impacts of the GDPR is the introduction of penalties for companies that break the rules. These penalties can be as high as €20 million or 4% of annual global turnover, whichever is greater. Therefore, it is important that companies carefully review their data protection practices and ensure that they comply with the requirements of the GDPR.

In a world where data protection is an increasingly important concern for consumers and businesses, it is elementary that companies understand the GDPR and adapt their data protection practices accordingly.

What do companies need to consider when it comes to data protection and how can data protection mishaps and data breaches be reduced?

Companies must follow some important rules when processing personal data in order to meet legal requirements and the needs of their customers. We have provided you with a brief overview of what mainly needs to be focused on.

Please note that this is only a non-exhaustive overview - framework and scope may vary.

• Privacy statements:
  Companies must inform their customers about the nature, purpose and duration of the processing of their data. This should be done in an understandable and easily accessible privacy statement.
• Obtaining consent:
  Companies must obtain informed consent before collecting and processing personal data. This consent must be voluntary and informed!
• Secure data storage:
  Companies must ensure that personal data is stored securely and that only authorized persons have access to it.
• Monitoring third-party providers:
  Companies must ensure that their third-party providers who process personal data also comply with data protection requirements.

To reduce data privacy mishaps and data breaches, companies can do the following:

• Conduct regular reviews:
  Companies should regularly review and adjust their data protection practices to ensure they are compliant with data privacy requirements.
• Training and awareness:
  Companies should regularly train and raise awareness among their employees to ensure they are consciously adhering to data protection regulations.
• Invest in security technology:
  Companies should invest in security technology such as firewalls, encryption and access control to increase the security of their data.

In today's environment, it is more important than ever to ensure that sensitive information is protected and all legal requirements are met. e2 Security's Data Privacy & Protection services can help you meet these requirements and avoid potential fines.

We are available to answer any questions you may have!

Please note that this is not legal advice, but much more a recommendation.