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ARE YOU GDPR READY???

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Marketing Society of Kenya > News > Blog > ARE YOU GDPR READY???

ARE YOU GDPR READY???

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  • Posted by: MSK Kenya

The General Data Protection Regulation (GDPR) (Regulation (EU) 2016/679) is a regulation by which the European Parliament, the Council of the European Union and the European Commission intend to strengthen and unify data protection for all individuals within the European Union (EU). It also addresses the export of personal data outside the EU. The GDPR aims primarily to give control back to citizens and residents over their personal data and to simplify the regulatory environment for business by unifying the regulation within the EU (Wikipedia, n.d.)

As of May 2018, GDPR will require multinational companies to make major changes to the way they collect and process consumer data. This is likely to have a big impact on marketers who rely on consumer data for carrying out targeted and effective marketing campaigns. GDPR applies to any company which offers goods or services to consumers in the European Union or monitors the behavior of people in Europe. This means that most global companies will be affected, even if their headquarters are not based in Europe. Companies could be faced with big fines if they don’t comply. These fines could reach up to 4% of a company’s annual global turnover, which for Global 500 companies could mean fines ranging from $800 million to as high as $19.2 billion (Catherine Armitage, n.d.)

GDPR GUIDE FOR MARKETERS →   https://www.surveymonkey.com/r/WFA-GDPR-Guide

Author: MSK Kenya

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