What is the General Data Protection Regulation and How Does It Impact You?

More and more data is collected from each of us every day. On May 25, 2018, the General Data Protection Regulation (GDPR) became enforceable in the European Union. At its core, the General Data Protection Regulation is designed to give individuals more control over their personal data—defined as any information relating to an identified or identifiable natural person—and to establish a single set of data protection rules across the EU. To comply with this new  data protection act, companies must “implement appropriate technical and organizational” measures to protect personal data. These measures include:

  • Knowing what data they hold and have appropriate rights to use the data
  • Being able to answer questions from customers, as well as employees and former employees, about what type of data they hold, and, in some cases, delete data they no longer need
  • Considering privacy and security at the start of a project or in first building a product, and do a review of projects before launching
  • Notifying their main regulator within 72 hours of becoming aware if they have a security incident
  • Requiring their vendors to also secure their data, and record this commitment in a contract

It’s important to note that GDPR requirements don’t just apply to EU organizations; they apply to all organizations, anywhere in the world, that target, collect, or use the personal data of any EU resident. Organizations that fail to comply with GDPR can face stiff penalties and fines—up to 2% or 4% of total global annual turnover or €10 million or €20 million, whichever is greater.

An opportunity to change the way you secure data

Delivering personal data protection to EU residents continues to be a challenge and a priority as the business, technology, and threat landscapes evolve and become more complex. Where do you begin? As a first step, assess your data loss risks. Next, take an inventory of your attack surfaces and look at how you can better protect them. Finally, you’ll want to think about how your technology transformation plans could be integrated with a GDPR security investment to deliver personal data security.

McAfee can help your organization across the entire data protection lifecycle.

 

Data Protection Lifecycle

  • Step 1: Continuous Discovery and Assessment – Discover, classify, and inventory personal data.
  • Step 2: Data Security – Protect personal data at rest and in motion on endpoints and in the cloud.
  • Step 3: Application Security – Defend critical applications in the data center and cloud.
  • Step 4: Cloud Data Security   – Safeguard personal data that is uploaded to the cloud, that resides in the cloud, and that is downloaded from the cloud.
  • Step 5: Breach and Detection Response – Ensure that critical processes are in place to detect, investigate, and remediate breaches in a timely manner.

GDPR awareness

Want to see how your organization compares to others in preparing for GDPR? In our report, Beyond GDPR: Data Residency Insights from Around the World, McAfee surveyed 800 senior business professionals from a range of industry sectors across eight countries around the world about their current approach to data protection, management, and residency.

Here are some of our findings:

  • Where’s the data? 47% of organizations are completely confident that they know where their data is physically located.
  • How well do you understand GDPR? 44% have a thorough understanding of the regulation and what it means to them.
  • How long does it take to report a breach? It takes most organizations 11 days on average to report an incident. (The GDPR reporting deadline is 72 hours from becoming aware of the security breach.)

For an in-depth look at how McAfee can help you address GDPR compliance, download our solution guide “GDPR and Your Data Protection Transformation.”

 

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