GDPR and how our technology can help you with compliance
The General Data Protection Regulation (GDPR) enforcement begins 25th May 2018. We hope with this article we can help our users understand the GDPR and how Hubshare can help them comply.
Questions to ask yourself
- Where do you store your electronic documents?
- How do you exchange electronic documents?
- Are they secure when at rest or in transit?
- Are they in a format so you know what’s in the contents of all these documents?
- How many copies of a document exists?
Here are some facts
- On 27th April 2016 it was passed that the GDPR would replace the EU Data Protection Directive.
- GDPR enforcement begins 25th May 2018.
- Protecting the rights of a persons personal data and how it is processed is key to GDPR compliance.
- The GDPR is designed to protect residents of the EU from fraudulent use of personal data. Over 113 million personal records have been stolen since 2013 in the UK alone, which shows you how big of an issue it is.
- Over 60% of customer information is stored in business documents, which means they are likely to contain personal data protected by GPDR.
- Failure to have in place accountable and provable processes, procedures and protection for personal data can result in failure of compliance
- The GDPR applies to entities inside and outside the EU that process the personal data of persons in the EU.
- The GDPR imposes fines of up to €20,000,000 or 4% of revenue, whichever is highest, for violations of its regulation.
- The GDPR applies not only to data stored electronically, but also all information stored in hardcopy files and prints.
How Hubshare can help with compliance
Hubshare is designed so that all documents are encrypted both in transit and rest, which means they are kept private and secure. A full audit trail allows you keep up to date with where your files have been.
If you want to read the GDPR report in full visit the official site.