Are you on the right path towards GDPR compliancy?
Doomsday or scarecrow? Articles on the General Data Protection Regulation (GDPR) are published on a daily basis. Consultancy firms, lawyers and other experts frequently weigh in to explain the details of GDPR. Many publications raise the alarm, since no organization seems truly GDPR compliant. Consequently, fines (up to a maximum of 4% of annual worldwide turnover) and reputational damage could be enormous. Others perceive GDPR as just a paper tiger and state that many ‘experts’ are scaremongering to their own benefit.
We will not participate in the speculations – is GDPR doomsday or a paper tiger? - or hypothesize in what capacity the supervising authorities will enforce GDPR. Instead, we believe that the GDPR debate should be revolving around key questions such as ‘how to manage GDPR compliance in your own organization’ and ‘what are best practices in implementing GDPR compliance?’ To this end, we would like to share our experiences in guiding financial institutions in the Benelux towards GDPR compliance.