Great article in Property Week on Data Protection from my colleague Alex Leonidou. The Property Industry is surprisingly data heavy so many parties still have a great deal to do in order to ensure compliance.
If you have never heard of the General Data Protection Regulation (GDPR), you had better start panicking now. The new EU regulation comes into force in May and represents the biggest shake-up in data transparency for a generation. Businesses will have to prove valid consent for the use of personal data, while members of the public will be able to request a copy of the data held about them and demand its deletion. In the event of a data breach, the company must report the breach within 72 hours of identifying it or face the full force of the law, including fines of up to 4% of global turnover, or €20m (£18m) – whichever is greater. So how prepared is the industry and what steps should businesses take to ensure they are compliant?