Are you GDPR-compliant? If not, what are your plans to become compliant?
Why does it matter to me in APAC? GDPR extends to all companies dealing with any business or individual in Europe – and the fines for non-compliance are high – 4 percent of worldwide turnover or €20 million per infringement, whichever is higher.
Do you want to pay that? Better to be prepared – and make sure your staff are compliant. The best solution for that – face-to-face training is costly and time-consuming, so elearning is the most cost-effective solution.
eLearning Path is excited to be the first partner in the APAC region to work with Briefed – a UK-based elearning company providing cost-effective online GDPR training.
Read on for more details.
It has been widely publicised that the penalties under GDPR are much more severe than under the Data Protection Act 1998. The penalty which has received the most coverage is the monetary fine, issued by the ICO. Currently the ICO has the power to issue a fine of up to £500k. Come 25 May 2018, under GDPR, the ICO will have the power to issue a fine of up to £17m or 4% global turnover, whichever is higher.
Secondly, and a penalty which I have found to be much more costly for businesses than any fine, is the publicity the ICO is allowed to generate relating to your sanction. When sanctioned, the ICO will issue a press release, detailing your breach and the sanction they have imposed upon you. Current customers will hear about the data breach, potential customers will hear about the data breach, competitors will hear about the data breach. The impact on the sustainability of your business can be catastrophic.
Thirdly, the ICO have the powers to issue criminal proceedings against your organisation for failure to comply with the legislation. And you could find yourself in court again, being sued by the data subjects for failing to protect their personal data.
Do you think your business could survive these consequences?
To find out more about how we can help your organisation become compliant with GDPR – visit Briefed
Read what the Hong Kong TDC have to say here.