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Business Daily

Are You Ready for GDPR?

Business Daily

BBC

Business

4.4816 Ratings

🗓️ 14 May 2018

⏱️ 18 minutes

🧾️ Download transcript

Summary

New data protection rules are due to take effect in the European Union on 25 May, and complying with them is proving to be a headache for businesses throughout the world.

Manuela Saragosa speaks to two small British businesses struggling to meet the requirements of the new General Data Protection Regulation. Jo Bausor of the Henley Festival of music and arts says she has actually benefited from culling back their database of client contacts. But life coach Clare Josa says it is costing her an arm and a leg to audit all her clients' digital data trails.

Meanwhile Wim Remes of data consultants Wire Security explains why the new European rules have led to a flood of enquiries from clients in the US and elsewhere around the globe.

(Picture: Man in white shirt buries his face in his hands as digital icons fly around him; Credit: photoschmidt/Getty Images)

Transcript

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0:00.0

Hello and welcome to Business Daily from the BBC with me, Manuela Saragossa.

0:09.7

Coming up, why some small businesses in Europe think their world could end later this month.

0:15.4

We don't have access to a team of 50 people who are going to redesign our software systems.

0:19.8

We're left with two choices.

0:22.1

Either shut up shop or trade illegally. Small firms fret over the European Union's new data

0:29.1

privacy rules called GDPR. They're designed to protect consumers, but will they? I don't think

0:35.7

that in the near future there will be a lot of big cases that will show the impact of GDPR.

0:40.5

The enforcement will definitely be a challenge for all regulators.

0:43.5

That's all in Business Daily from the BBC.

0:48.9

It's going to be the biggest shake-up to data privacy in years.

0:53.4

Later this month, May the 25th, to be exact,

0:56.2

a new set of European Union laws called the General Data Protection Regulation or GDPR comes into

1:02.9

force. So what, companies outside the EU might say? Well, they'll apply to anyone with customers

1:09.0

in the EU, so it has global implications.

1:12.0

And it comes just as a slew of high-profile breaches has brought the issue of data

1:16.2

security to public attention. Think Facebook or Cambridge Analytica.

1:20.8

People are increasingly realizing that their personal data is not just valuable to them, but also

1:25.9

hugely valuable to others. Here's the BBC's Chris

1:29.4

Fox with an explanation of what exactly those new GDPR rules are.

1:37.0

You've probably had a lot of emails lately from companies asking you to review their privacy policies.

1:42.8

That's because on the 25th of May a new law

1:45.5

kicks in that changes how our personal data can be used and stops companies using some

...

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