Do we need to be GDPR complient?
According to Workplace Privacy Report: **Considering that one of the main objectives of the GDPR was to expand the territorial scope, companies based outside the EU should not be surprised to find that they are a particular target of data regulators. **The GDPR imposes significant fines for companies that fail to comply. Penalties and fines, calculated based on the company’s global annual turnover of preceding financial year, can reach up to 4% or €20 million (whichever is greater) for non-compliance with the GDPR, and 2% or €10 million (whichever is greater) for less important infringements. So, for example, if a company fails to report a breach to a data regulator within 72 hours, as required under Article 33 of the GDPR, it could pay a fine of the greater of 2% of its global revenue or €10 million.
In other words… Yes.
Do you need help to comply with the GDPR? Please contact us as soon as possible to be scheduled for this required communications compliance.