Smart Business Technology Series – Episode 3
One of the biggest concerns for the companies and public institutions that work with personal data is the GDPR or General Data Protection Regulation. This European regulation, issued by the European Union is by far the most complex and exhaustive document released by the European institution and it affects all of the private companies and public institutions that are storing, selling, working with personal data of the European citizens. This regulation will come in force starting with 25th of May, 2018.
As the president of our cluster saw that in Romania, this regulation for most of the companies and public institutions is still in awareness phase, together with Omega Trust, founding member of our cluster and with our partners, The Civil Society of Lawyers Cunescu, Balaciu & Associates and Romsym Data, organized an event where the main theme was the new regulation and the impact it will have on the entities that are working with personal data.
The most debated topic was the fine for non-compliance with the new GDPR. Considering the fact that the fines can reach up to 20,000,000 euro or 4% of the company’s global turnover, it is easy to understand why this subject was the one that caught the eye of the public. Another heated topic was the possibility of the citizens to ask the companies to erase their personal data completely, and more importantly, how is this possible.