Effective management of data has become a major corporate priority, not just an IT responsibility. Driving this change are the growing risks posed by cyber-crime as well the need to comply with new, more rigorous data regulations (like the EU's General Data Protection Regulation, or GDPR, CCPA, COPPA, VPPA etc..). Businesses that neglect to protect and govern their data run significant risks: regulatory penalties, brand degradation, customer churn, negative financial impact, and loss of market share.
More than 80 countries and independent territories have adopted comprehensive data protection laws. Data regulation is being taken to a new level with the introduction of the European Union’s GDPR (General Data Protection Regulation).
The impact of the GDPR—which is enforceable as of 25 May 2018—goes well beyond EU borders. Companies inside and outside the EU (including suppliers, vendors, and outsourced organizations) that collect, hold, or process data about an EU citizen are required to comply with the law. And penalties are severe: Data protection authorities can fine your company up to four percent of the previous year’s annual global revenue or even order you to shut down your data processing.
GDPR and other regional data-privacy frameworks create more-stringent rules around data privacy and protection for both data controllers (Anira`s clients) and data processors (Anira). Since clients can process personally identifiable data from European “data subjects” in our core applications, our Data Governance module will help our clients adhere to the regulations.