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How does GDPR affect my business?
GDPR, the General Data Protection Regulation, affects any organization that handles personal data from EU individuals.
Learn how SEEBURGER MFT File Transfer (MFT) helps you comply and mitigate risks.
The EU General Data Protection Regulation (GDPR) has been in effect since May 25th 2018. It regulates how a company, organization or individual may process personal data belonging to an EU individual. Any company doing business with individuals located in the EU needs to comply with GDPR.
The GDPR’s definition of ‘personal data’, referred to as Personally Identifiable Information (PII), is very generic: For instance, names, birthdays, photos, addresses, and even social media posts fall under GDPR.
GDPR also gives individuals the right to know how and why PII is being collected, and how it’s being used. Furthermore, they can request to see their PII and or their PII to be removed or deleted.
This makes secure data exchange critical when personal data is involved. By law this requires:
There are many ways of exchanging personal data. System-to-system methods include uploading batch files, scheduled FTP transfers etc. System-to-human transfer includes planned reports, ad-hoc enquiries etc, while human-to-human transfer includes e-mails, flash drives, instant messaging and more.
Companies without a centralized overview of their data exchange are at risk of a data breach. Whether intentional or accidental, data leaks from key business applications continues to be a real threat for many companies. Leaks can result in data breaches that violate rules, including: internal compliance regulations, partner or customer service level agreements (SLAs), and privacy or data protection laws like GDPR.
Failing to comply with GDPR requirements, whether intentional or accidental, can be catastrophic for a company. Violations can cost your company of potentially €10-20 million or up to 2-4% of worldwide group turnover in fines, time and money. The penalties for inadequate protection of personal data also have an impact on those who are directly responsible, e.g. Managing Directors, board members, Data Controllers, CISO etc.
A Data Protection Impact Assessment (DPIA) is a risk assessment audit for technologies that process personal data. When running a DPIA, you need to look at the following areas:
Sharing files amongst people and systems is essential to today’s increasingly automated business operations. However, if file sharing was not considered in the design, execution and monitoring of core business processes, there will be costly vulnerabilities.
A secure Managed File Transfer (MFT) solution gets business-critical data to the right place at the right time, while also letting the sender track end-to-end and prove the data has been received. Alongside classic PII, this could also be financial data, price lists, contracts, payment information, intellectual property, inventory, orders or supply chain data etc. Some of the above will of course also include PII.
SEEBURGER BIS MFT is a solution that provides secure and monitored end-to-end management of all file transfers.
Besides being GDPR-compliant, data protection is important for many other reasons in various industries:
SEEBURGER BIS MFT is a solution that can help businesses comply with GDPR. Every file is governed by policies, which helps validate, check and securely move data of any size between internal applications, companies, partners, customers and employees.
Benefit from the business advantages of managed file transfer, which go beyond compliance, while avoiding the hidden costs of "free" file sharing
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