Key insights for businesses on GDPR
Key insights for businesses on GDPR
- Financial and reputational risks of non-compliance remain high with fines totaling more than €4.2 billion.
- Companies must review their processes for handling data subjects' requests to avoid penalties and maintain customer trust.
- Artificial intelligence and other advanced technologies brings both opportunities and challenges.
European Commission published second report about GDPR
The European Commission published its second report on the application of the General Data Protection Regulation (GDPR) on 25 July 2024, with a detailed analysis of its implementation across the EU since its entry into force in 2018. The report highlights the regulation's significant impact on data protection, with more than 6 680 decisions by data protection authorities and fines totaling more than €4.2 billion. This highlights the importance of GDPR compliance for companies, as the financial and reputational risks of non-compliance remain high.GDPR enforcement
One of the most active areas of enforcement relates to data subjects' rights, such as the right to access, rectification and erasure of personal data. Companies must ensure that their processes for handling data subjects' requests are efficient and compliant with the law. Regular review of these procedures is essential to avoid penalties and maintain customer trust.Data protection landscape continues to evolve
With the continued focus on GDPR enforcement, companies should ensure they have comprehensive data protection strategies in place, especially when dealing with cross-border data transfers. The report also highlights the need for constant vigilance and adaptability to regulatory developments, as the data protection landscape continues to evolve.AI and other advanced technologies
In addition, the report highlights the growing role of technology in data protection, noting that the use of artificial intelligence and other advanced technologies brings both opportunities and challenges. Companies need to stay ahead of these developments to ensure that their data protection practices are not only compliant, but also capable of addressing new and upcoming risks.Does your company needs support with GDPR compliance or understanding the implications of the European Commission report? Please contact Valériann Lukombe. He will gladly help you.