EU General Data Protection Regulation

Historically, banks are seen as very conservative entities, not known for sharing their internal processes or customer data. This closed environment is driven by the inherent security risks associated with the world of finance. However, implemented last year, new international legislation is poised to regulate an unprecedented level of openness in…

Next May, the long-awaited General Data Protection Regulation (GDPR), which is already in effect, becomes enforceable in the EU. In reality though, its effect will be felt worldwide. Any company holding the personal data of EU individuals will have to ensure they’re compliant. The penalties for breaching the legislation can be high, with fines of…