That's the fine you have to pay if you don't put your business on the new EU Data Protection Basic Regulation.
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The new basic European data protection regulation will enter into force on 25 May 2018. This means rethinking and upgrading companies.
Especially when dealing with customer data, many obligations have to be taken into account. Companies that does not implement this regulations can be fined with 20 million Euro or 4% of the company's total annual turnover (depending on what is higher).
Processes change and fundamental adjustments have to be made within the company. This includes the establishment of new communication processes with corporate management and the supervisory authority, adaptations of data protection notices and declarations, integration of new Guidelines for order processing in processes and for each employee the training in new obligations such as: data protection impact assessment, documentation requirements or new regulations on data protection terminology.
Training courses are a necessary but annoying subject. High costs for seminars arise and employees are no longer in day-to-day business.
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