What you need to know about the EU’s GDPR data privacy regulation, if you operate in Asia
And why you should attend our event with the Hong Kong General Chamber of Commerce on October 11th
The European Union’s General Data Protection Regulation (GDPR) is more than just a privacy law for Europe. Indeed, it affects any company anywhere in the world handling data about anyone residing within the EU – not just EU citizens – and having the intent to target them. To name a few: airlines, hotels, retail companies, financial institutions are likely to be pulled into scope.
Most companies outside the EU do not realise this, and we are now only a few months from enforcement, which will happen on May 25, 2018.
As a matter of fact, Asian companies now have a less than a year to implement a GDPR compliant data management framework, encompassing key items such as:
- Being able to have a view of all the organization’s data i.e. knowing where personal data is stored, in what form, who is authorized to access it… which can be difficult, given today’s fragmented frameworks.
- Having processes in place to notify data breaches within 72 hours.
- Complying with the rights to access, to portability and to be forgotten. Any EU resident can say to any organization “Give me any data you have on me”. The company shall then retrieve that information, process it, and redact & present the report within 30 days.
- Performing Privacy Impact Assessments (PIA) before processing sensitive information or launching new projects.
- Appoint a Data Privacy Officer and designate a representative in the EU to serve as a point of contact for complaints from data subjects and deal with regulatory matters in Europe.
Needless to say that less than a year from enforcement, GDPR comes up as quite a challenge for Asian companies who intentionally target EU residents.
Would you like to know more?
Well, register for our upcoming event with the Hong Kong General Chamber of Commerce! We’ll discuss GDPR and its impact in Asia, how to comply and will have the pleasure to welcome professionals from various industries to share their experience.
In the meantime, don’t hesitate to: