Protiviti South-East Asia Updates (March 2018)

Protiviti South-East Asia Updates (March 2018)

Protiviti South-East Asia Updates (March 2018)

You may be aware that the European Union’s General Data Protection Regulation (GDPR) will be enforceable as law in all member states of the European Union (EU) starting from May 25, 2018.
 
The primary objectives of the GDPR are to institute citizens’ rights to control personal data and to simplify the regulatory business environment with a unified regulation within the EU. The GDPR imposes stricter conditions for consent and data retention, and increases fines and penalties for violations.

This regulation applies to any company that collects or processes personally identifiable information of EU residents and visitors. It will have the greatest impact on industries that have a global client base, including hospitality, pharmaceuticals, retail, financial services, aerospace and defence.

There are serious legal and financial consequences of non-compliance with the law. Whether or not your organisation conducts business directly with the EU, I urge you to review the operational functions that could be impacted, undertake an inventory of personal data stored, review data policies, conduct a risk assessment to identify any gaps, and very importantly, engage with your vendors as soon as possible.

Time is running out! My team can assist to identify issues and develop a customised process that can work with your existing enterprise risk management framework. There are technology solutions available to facilitate ongoing protection and longer term sustainability of the GDPR compliance process. Please do not hesitate to contact us for a more detailed discussion.

Sincerely,
Sidney Lim,
Managing Director
Protiviti South-East Asia


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Sidney Lim
Sidney Lim
Country Leader and Managing Director
+65.6220.6066
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