What Is General Data Protection Regulation?

Data protection act and (amendment) 2003 states that “when an organisation or individual receives an individual’s personal information, they have a duty to keep these details private and safe. This process is known as data protection. Organisations or individuals who control the contents and use of peoples personal details are referred to as ‘data controllers’. CMIT. (2016). People who data protection applies to would be people who have their information stored on a computer or on paper. Under this act people have the following rights.

The data protection act is designed to keep customers information from being used for other things that is not stated by the business, for instants if a customer gives his personal details i.e. credit card details and home address etc. the business must only use the data provided by the consumer just to transfer the money and not be used for any other reasons.

Data protection is important and can have legal implications if not explained appropriately, miss-use of personal data (whether it be internal or external) can be costly to the organisation and therefore a policy and procedure should be in place which is communicated to the new

Also the legality of data transfer from Europe to the United States pursuant to the Safe Habor program can be challenge by the individual countries’ data protection authorities resulting in the suspension of the transfer of some or all personal data. US companies might be forced to host user data exclusively within the EU country unless a permitted exemption applies (such as for legal

The data governance industry has become increasingly regulated. Big Toys for Big Boys commitment is to protect the information of our consumers, expand the business brand and increase company profits. The policies that surround or business data governance is intense and extensive, the structure of the new data governance department is to expand on existing resources, formulate proper policies and procedures system of oversight and adherence. The priority is to create a new foundation, objectively approaching business needs and isolating areas of opportunity. Also,

GDPR aim is to protect all the EU citizens from privacy and data breaches in a world where progress in majorly analyzed from data collected. Although changes have been made to the regulatory policies, the key ideas of GDPR impact on the business are explained below.

It was a big change since the EU Directive on Data Protection 95/46 EC came into force in 1995. In Europe, there are around two hundred and fifty million Europeans who use the Internet every day, which their Internet usage information is being monetised. The total value of such data is predicted to reach one trillion euros annually by 2020. However, citizens of European countries are now demanding for more consistency from the current protection, and corporations are requesting for more legal certainty and lower onerous compliance costs. Since the Directive 95/46 EC permitted each Member State to develop its own regulation within the objectives of the Directive, the different implementations of the Directive by Each Member State have created complexity, inconsistency, legal uncertainty and more costs. The European Commission determines that these problems affect the confidence in the system and the competitiveness

The EU’s new General Data Protection Regulation (GDPR) comes into force on 25 May 2018, and has the UK’s businesses in a frenzy however despite the promise of fines of up to 4% of global turnover for non-compliance, research shows that still in September 2017 a huge 97% of companies have no plan in place to ready themselves for this new legislation with only 9% expecting to GDPR ready.

EU stands for the European Union which was invented after the Second World War. The EU is a special economic and political partnership between 28 European countries together which covers more than half of the continent. EU purpose was to unite the european countries economically and politically and to bring peace to Europe (Europa.eu, N/A). EU was formed on April of 1951 by six countries which were France, Italy, Belgium, West Germany, Luxembourg and Netherlands. United Kingdom joined the EU on January 1973. On this year the United Kingdom started to follow EU law. Therefore, UK has three main sources of law which are statutory law (Act of Parliament), Case law and EU law. All of them could affect any business in various ways depend on business type, size, policies and etc. New countries which want to join EU must sign a treaty to become a member and to commit to their rules. There are five main bodies in EU: the Act Of Parliament, European Commission, European Council, Court of European Justice and Court of Auditors. Each body has its own specific things to be done (Keenan D. and Riches S., 2005). This report will discuss how United Kingdom’s membership of the European Union affects the business community, especially in the free movements, free trade, competition law and employment law.

According to Jones, "The GDPR applies to anybody that is doing commerce in the EU, so anybody offering into it or has representatives there,”. "Fines for noncompliance are 4 percent of worldwide income, and that can be colossal." GDPR compliance is a best data security need for 92% of US organizations in 2017, according to a PwC Survey. In this later study, about all of the respondents considered

In February of 1998, the Ministry of International Trade and Industry established a Supervisory Authority for the Protection of Personal Data to monitor a new system for granting of “privacy marks” to businesses committing to the handling of the personal data in accordance with the MITI guidelines. The “privacy mark” system was administered by the Japan Information Processing Development Center (JIPDEC). JIPDEC was a joint public/private agency. Any company that does not comply with the industry guidelines will be excluded from relevant industry bodies and not granted the privacy protection mark. And then they will most likely be penalized by the market forces.

While this may increase consumer feelings of security relative to businesses, it comes at the cost of privacy relative to the government. Financial institutions face a heavy set of regulations to fully comply with the Directive. International monetary transfers from the EU are covered under the Directive in Article 25 since such transfers concern EU citizens’ data. These transfers are specially scrutinized because of privacy concerns in other countries. However, many Member States, worried about the economic effects of creating obstacles for foreign companies, allow the transfers to occur even when they suspect a violation. While some transfers require only the consent of the individual whose data is being transferred, others must be part of approved Standard Contractual Clauses or require

7. Lastly, a clear declaration that the Commission’s 2000 decision is invalid would nullify the legal basis for data transfers under the Safe Harbor framework unless the Court limits the scope or the effective date of such a ruling. The impact would fall not only on the big Internet brand names that are often the objects of European angst, but on a great many smaller EU enterprises that lack choices for where to store data.

Business can sell their products and offer services all over the Europe. This allows companies to have access to the market that is almost 50 times bigger than individual nation’s market

However, there will be No requirement of notification on data processing activities. A positive change for data controllers is the removal of many of the general notification requirements. On the other hand, the GDPR will establish a tiered penalty system, which will increase the fines in general. This has already been causing a lot of attention.