General Data Protection Regulation (GDPR)
The General Data Protection Regulation (GDPR) is the European Union’s new data protection law. It replaces the Data Protection Directive (Directive”), which has been in effect since 1995.
GDPR carries provisions that require businesses to protect the personal data and privacy of EU citizens for transactions that occur within EU member states. The GDPR also regulates the exportation of personal data outside the EU. The GDPR will levy harsh fines against those who violate its privacy and security standards, with penalties reaching into the tens of millions of euros.
The GDPR defines several roles that are responsible for ensuring compliance: data controller (defines how personal data is processed and the purposes for which it is processed) , data processor (liable for breaches or non-compliance) and the data protection officer (liable for process ,store and monitor large amounts of EU & Non EU citizen data)
Why to Comply with the GDPR
The penalty for noncompliance can be up to € 20 million, or in the case of an undertaking, up to 4% of the total worldwide annual turnover of the preceding financial year, whichever is higher. The fines could be for the following reasons :
If regulators determine an organization has multiple GDPR violations, it will only be penalized for the most severe one, provided all the infringements are part of the same processing operation.
Data Protection Principles
Protection and Accountability Principles Outlined in Article 5.1-2
Processing must be lawful, fair, and transparent to the data subject.
You must process data for the legitimate purposes specified explicitly to the data subject when you collected it.
You should collect and process only as much data as necessary for the purposes specified.
You must keep personal data accurate and up to date.
You may only store personally identifying data for as long as necessary for the specified purpose.
Integrity and Confidentiality
Processing must be done in such a way as to ensure appropriate security, integrity, and confidentiality (e.g. by using encryption)..
The data controller is responsible for being able to demonstrate GDPR compliance with all these principles.
GDPR COMPLIANCE PLAN PROCESS
Govern regulatory policies in a centralized location. Define and document policies, controls, Governance processes, Critical Data Elements, Data Categories, Data Subcategories, DQ dimensions and DQ rules
of Restricted Data
Mapping of data to critical data elements ensuring restricted data is effectively validated by customizing the workflows and used for ongoing GDPR compliance as the law evolves.
to Maintenance Issues
Manage the governance stewardship to rectify the error data and quickly address issues with targeted maintenance alerts.
Risk by Monitoring Risk Reports
Track and analyze Data risk effectively by monitoring the reports to mitigate business impact and the policy violations.
Managing all governance activities under single tool will reduce the human power as well as the cost.
DATA INSIGHTS PLATFORM(DIP) SOLUTION FOR REGULATORY COMPLIANCE
Data Insights Platform (DIP) is a Data Governance framework designed specifically for Regulatory compliance , with pre-configured content like Policies, Controls, data categories, Sub-Categories, Critical Data Elements, workflows, reports, dashboards, and more.
Data Insights Platform (DIP) offers a centralized location where you can document, govern and collaborate around privacy and security policies to ensure they are effectively managed across the enterprise. It also allow organizations to establish a data mapping system to record processing activities and perform data Quality assessments.
Data Insights Platform (DIP) provides a sustainable approach to regulatory policies by managing the compliance through risk evaluations and assessments then take remediation actions as issues arise. Manage approvals, identify risk controls and tailor workflows to match specific business needs. Monitor compliance progress through easy-to-understand dashboards and reports which shows the regulatory violations details.
AMURTA’s Data Insights Platform is an enterprise-level solution that enhances productivity and perform better by turning raw data into actionable insights. This platform put people and process in place which improves automating the data governance and data management to deliver the trusted data to the business users who can quickly chart out the reality of data, its lineage, and usage across the policies, processes, projects, and regulation.
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