You might have heard about the GDPR which comes into effect on 25 May 2018. Nevertheless, do you know what its effects are pre as well as post Brexit?
It’s important that any businesses or organizations centered in the United Kingdom know what those effects are as non-compliance with the General Data Protection Regulation can result in grave consequences, including penalties of up to 20 million euros or 4% of the yearly transaction, whichever is more.
What does the General Data Protection Regulation mean for the United Kingdom in the short-term?
There will be a time, after the launch of the GDPR, when the United Kingdom will still be a portion of the European Union. This means that folks in the United Kingdom will also be living in the European Union, and will have the protection which the GDPR affords people who reside in a European Union country. This implies that all companies and organizations in the United Kingdom which are concerned with processing the files of folks who reside in the country will have to abide by the General Data Protection Regulation.
What about after Brexit?
Currently, there is a Data Protection Proposal going through the Legislative body in the United Kingdom which manages the protections provided by the GDPR. When this proposal has gone through the Legislative body it will become a rule. Whether this rule will still apply to United Kingdom citizens after Brexit, or whether the rule will be modified, remains unclear. However, what is definite is that the United Kingdom-based organizations and businesses will still have to abide by the GDPR after Brexit if they manage the private files of folks who reside within the European Union.
This is for the reason that the GDPR is an international establishment. Any organization or business should conform, if it’s involved in the managing of the private files of folks who live within the European Union, regardless of where in the world it is based.