Mandy Moody, CFE
ACFE Content Manager
According to the regulation’s detailed website full of helpful tips and background information, the European Union’s (EU) General Data Protection Regulation (GDPR) was designed to harmonize data privacy laws across Europe, to protect and empower all EU citizens' data privacy and to reshape the way organizations across the region approach data privacy. But, as i-Sight’s Dawn Lomer recently pointed out, fewer than half of the companies recently surveyed were prepared for the regulation that comes into effect May 25. Just in case you are one of those companies, here are four resources to help you get compliant before the nearing deadline:
- Podcast: How Fraud Examiners Can Prepare for the General Data Protection Regulation
Lawyer and privacy auditor Malaika Nolde, LL.M., CFE, discusses how the new regulation rolling out May 25, 2018, will affect companies not just in Europe, but all over the world. Listen to the podcast.
- Checklist: Six Ways to Prepare for the EU’s GDPR
The GDPR replaces the EU’s Data Protection Directive 95/46/EC and is designed to harmonize data privacy and data protection requirements across Europe. A key difference between the new regulation and its predecessor, however, is that it holds accountable all companies that process personal data associated with EU residents, regardless of whether those companies have a physical presence in the EU. Read the checklist.
- Risks: Cybersecurity Expert Speaks on GDPR Vulnerabilities
“One of the speculations about what we will see with GDPR is more extortion around hacks,” said cybersecurity expert Dr. Jessica Barker. She explained that if hackers breach an organization and access information they shouldn’t be able to under GDPR, they might see that as a new opportunity for extortion. Read full article.
- Action: GDPR Compliance: 23 Things You Need to do Right Now
The following 23 steps will put you on the road to GDPR compliance and a healthier and more robust data security environment. Read the steps.
As the checklist above points out, the “potential penalties for noncompliance, meanwhile, are daunting, reaching as high as 4% of global revenue or 20 million euros, whichever is greater.” The time is now to prepare. Don’t let the deadline pass you by.
Also, learn more about how the regulation will affect anti-fraud professionals in the breakout session, "General Data Protection Regulation (GDPR), Ethics and the Implications for Fraud Examiners" at the upcoming 29th Annual ACFE Global Fraud Conference in Las Vegas, June 17-22. Register by May 11 to save $100.