Sage's Take On the Effect of GDPR Deadline

Key Take-Aways:

• On 25 May 2018, the General Data Protection Regulation (GDPR) comes into effect in the EU and around the world, regulating how businesses should handle personal data.
• The regulation will affect businesses of all sizes including those in Malaysia, due to its extra-territorial reach affecting companies here that have business in the EU or have customers that are EU residents.
• In Asia, many businesses think that the GDPR will not directly affect them, and are not ready for the regulation
• According to EY, only 10% of companies in neighbouring Singapore have a GDPR compliance plan in place, far below the global average of 33%. This figure could be even lower for Malaysia.
• More recently in 2017, companies in the hotel and education sector, as well as an employment agency have been fined up to RM 20,000 for breach of the PDPA.
• Aside from day-to-day activities, the GDPR also makes it a business imperative for all organisations to demonstrate compliance with its data processing principles. In some cases, companies may need to formally appoint a Data Protection Officer (DPO) before carrying out any large-scale processing of personal data.

Offerings :

Sage, the market leader in cloud business management solutions - strategy to accommodate and compliment the GDPR in its solution.

References:

Counting Down to the General Data Protection Regulation (GDPR)