Media-Insert Communications

Media-Insert Communications

The blog of Media-Insert Communications – featuring freelance P.R. and journalism links to the work of Graham A. Jarvis.

Editing, Journalism, Copywriting, and Public Relations

Data privacy is driving the European Union’s General Data Protection Regulations (GDPR) in the UK, and yet it’s widely felt that banks and other financial services institutions have run out of time to find ways to comply with the requirements. Looming on the horizon for failing to comply is a dark cloud of significant financial penalties.

Ashton Young, writing for Data Centre News on 26th July 2017 in his article ‘Majority of Organisations Think They’re GPDR Compliant Actually Aren’t’, says a global study by Veritas says the fines that could be imposed for non-compliance could be up 4 percent of global annual turnover or 20 million euros – whatever is the greater – writes Graham Jarvis, Business and Technology Journalist.

Lars Davies, CEO of award-winning payment solutions start-up Kalypton, comments: “This is deliberate and removes the ability of organisations to argue that paying a small fine (typically the level issued by the Information Commissioner’s Office) is cheaper than following with the law. The ICO now has no excuse but to start enforcing the data protection regulations as it should have done under the earlier regime. Parliament will need to hold the ICO to account if it does not enforce the regime properly.”

Find out more about how new technology solves GDPR, read the complete article

Published by Payments Cards & Mobile magazine on 18th September 2017. By Graham Jarvis, Business and Technology Journalist. #YearInReview #Kalypton

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