Focus Malaysia attended the media roundtable for the launch of Forrester study commissioned by Microsoft titled “Ensuring Agility and Trust In A Rapidly Changing Business Environment”. Here is the story filed by them on the report.
It is high time that corporations look into the European Union’s new General Data Protection Regulation (GDPR), which will be enforced in May next year, says Microsoft Malaysia & SEA new markets corporate attorney Jarom Britton.
The GDPR has impact outside of Europe, especially for companies that have business in the EU or have customers that are EU residents.
“The potential implications of the GDPR are huge. I am a little nervous about how infrequently I get asked about it by customers. It’s already in effect, but we’re in the grace period right now.
“Malaysian companies, if they haven’t started already, should begin getting ready for GDPR compliance now,” Britton shares at the launch of a study entitled “Ensuring agility and trust in a rapidly changing business environment” on July 31 in Kuala Lumpur.
Serious infringements can result in fines of up to €20 mil (RM101.23 mil) or 4% of the global turnover of the company, whichever is higher.
Companies could engage the services of Cloud providers that offer GDPR-compliant services as an option, as this would take the pressure off compliance costs. That said, Britton opines Malaysia is in some ways well-positioned for GDPR because its Personal Data Protection Act came into force quite recently, in November 2013.