Published: Wed, May 16, 2018
Industry | By Terrell Bush

European data protection law to affect Cayman businesses

European data protection law to affect Cayman businesses

It's not had to make any changes to this policy in line with GDPR, nor has it had to ask for any form of repermissioning in any form.

2 Each EU member state will likely adopt its own rules with respect to GDPR compliance; thus businesses with significant contacts in the EU may need the assistance of local counsel in connection each applicable EU member state. This is true regardless of whether or not your company has an establishment in the European Union, whether you do data processing as part of your core business or merely by means of operating a commercial website to sell your goods or services in the European Union, and-for the most part- irrespective of the size of your business operations.

The Chinese "don't have any reticence handing over their personal data if they see they are of some value" such as in new services or discounts, said the European executive, speaking on condition of anonymity. So, the level of security will be much greater for data that contains credit card numbers or social security numbers than it would for data that just contains name, email address and phone number.

Processing is necessary to protect the vital interests of the data subject or of another natural person. The list goes on...

Of course, businesses should ensure that no unnecessary data is kept and utilized. This is further necessitated when personalising the service to individual needs. According to the third biennial EY Global Forensic Data Analytics Survey by Ernst & Young (EY), only 12 per cent of firms in APAC have a GDPR compliance plan in place.

A data processor stores, structures, or otherwise processes data on behalf of the controller.

Like Google and Facebook, however, Snap is making it simpler for users to access its privacy tools and procedures, unveiling a new online privacy centre where users can check out its policies in plain English.

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First of all, their Privacy Policy has been updated not really to implement any changes but to make it easier for people to understand the information that they collect and the reasons for collecting them. "Companies need to create a culture that expresses respect for the data rights of the individual if they will ever succeed in complying with GDPR".

The GDPR will require USA businesses covered by the GDPR to adopt a new framework for identifying, tracking, managing and protecting Personal Data in accordance with GDPR requirements. Rigorous requirements for consent to retain and use Personal Data apply, which essentially reject consent by omission or inaction-consent by silence, pre-filled boxes, or inactivity will not constitute consent.

"While GDPR affects private and public sector organizations handling PII, certain key industries will have heightened exposure as a result of the volumes of PII data they handle as well as the nature of their business", said Peerapong Jongvibool, Fortinet's regional director for Southeast Asia and Hong Kong. It can be revoked at any time.

It revealed a lack of awareness of where data is stored internally and across third party suppliers, and, while 23% know where all data resides, over half of respondents don't. "This is a separate but related law, the Privacy and Electronic Communications Regulations 2003", says Baines, "which means that you can not send unsolicited electronic marketing to individuals without their consent, unless you already have a customer relationship with them".

Responsible data conduct is surely set to become one of the most coveted badges of corporate honour in the coming years. The risk to image and reputation, as well as the financial penalties foreseen in cases of non-compliance, should encourage companies to focus on building knowledge of the regulation and ensuring compliance on time for the deadline.

Her advice for smaller firms and non-government organisations that do not pass on electronic data: "Be sure your technology is good enough against hackers".

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