A recent survey carried out by DataSolutions found that almost one quarter of all Irish companies would have to close if they were find under the incoming General Data Protection Regulation (GDPR).
Companies found to be non-compliant with the GDPR (when it is enforced from 25 May 2018) can be fined up to €20 million or 4% of global turnover – whichever is greater.
A further 10% of organisations believe they would have to lay off staff in order to stay open should they be fined for non-compliance. An additional 18% believe they would have to trade at a seriously reduced rate if they were fined.
Amazingly, 20% of Irish companies claim GDPR compliance is still not a priority for them.
Do you know what your company needs to do to become GDPR compliant?
You should kick-start your GDPR compliance project with our EU GDPR Compliance Gap Assessment Tool by assessing your current stance against the GDPR, helping your organisation clearly establish areas for development, and plan and prioritise your project effectively.