27 November, 2020

New Lock For EU’s Digital Mines

Indian companies dealing with European data wait ­anxiously as the EU pushes in new security rules

Illustration by Saji C.S.
New Lock For EU’s Digital Mines
outlookindia.com
2018-03-17T11:10:34+05:30

Pretty soon, Indian companies, especially those associated with European companies, will have to walk that extra mile to protect personal data. Come May 25, the European Union (EU) will enact a new set of regulations, called the General Data Protection Regulation (GDPR), which will impose stringent conditions for personal data protection and privacy laws.

What’s more, any violation of or non-compliance with the new regulations will ­attract the strictest of penalties and fines. On an ­average, the new regulations call for up to 4 per cent of a company’s global revenue as penalty.

With the already huge and rapidly ­expanding field of big data play across companies and industries, data protection has come under the limelight and many countries are talking in terms of putting in place stringent rules for personal data protection. The EU will be the first off the block with GDPR, which comes into effect in less than three months. It is expected that following the EU’s ­example, similar regulations will start coming up in other countries...

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