ST. PETERSBURG, Fla., Oct. 23, 2017 (GLOBE NEWSWIRE) -- 360 Advanced, a leader in IT compliance and assurance services worldwide, is urging firms that manage consumer data to begin preparations now for implementation and enforcement of the GDPR, or General Data Protection Regulation, which is among the most comprehensive personal data protection legislation enacted in this century.
“Any U.S based business that engages the European market through the offering of goods, services or data profiling will need to adhere to this new set of rules or face substantial fines of up to four percent of their annual gross revenues,” explains Eric Ratcliffe, Director of Client Development at 360 Advanced, a respected national Qualified Security Assessor, GDPR Compliance Assessor, and CPA firm based in St. Petersburg, FL. 360 Advanced has clients in 30 U.S. states, Europe, South and Central America and the Pacific Rim.
Implemented to enhance the personal information privacy rights for citizens of the European Union, the GDPR requirements are global regulations affecting businesses and organizations with any interaction with EU entities.
“It is expected that the GDPR will become a dominant Privacy Management platform for many multinational firms,” said Ratcliffe. “Vendors that can provide independently verified evidence of their adherence to the GDPR standards will enjoy a distinct advantage over their competitors because, under GDPR, liability for noncompliance extends to third party vendors regardless of their nation status.”
Because verification of compliance with the GDPR could take 6-12 months, Ratcliffe urges firms to take action now to begin their audits to be ready for the implementation and enforcement deadline in May, 2018.
Under the new rules, both data controllers and data processors are held accountable. Businesses and organizations need to determine under which category their organization falls and the rules that may apply.
“The GDPR is a complex regulatory regime and achieving compliance will require familiarity with the all the rulings that apply to your organization. You will need to consult with a professional audit firm and legal counsel specializing in technology assurance and compliance. Failure to meet the standards can put jobs, brand name and your organization at risk,” Ratcliffe advises.
For an initial consultation, please contact Eric Ratcliffe: eratcliffe@360advanced.com.