POLL: are Asian firms ready for GDPR?

Author: Karry Lai | Published: 26 Jan 2018

With five months to go until the regulation goes live, how are businesses in Asia doing when it comes to compliance?

How GDPR ready are companies in Asia?

The EU's General Data Protection Regulation (GDPR) is set to come into effect on May 25 2018. Not only will it impact companies operating in Europe, it will also have a significant effect on companies – even those located outside of the EU – that target EU customers or monitor their behaviour. This means companies operating out of Asia will be caught in the scope of GDPR, and as such, will be required to show they comply.

Some changes the regulation introduces are crucial: on top of harmonising data protection rules across Europe, it sets out higher fines for non-compliance, which could be as high as €20 million ($23.6 million) or four percent of the company's annual global turnover, and introduces the right to...


 

 

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