GDPR: Five years on—is your business still compliant?
The General Data Protection Regulation (GDPR) was a game-changer when it came into force on May 25, 2018. Five years later, the impact of GDPR is still profound, with ongoing changes in enforcement and new precedents being set by courts and regulators. The question today is not whether you were ready back then, but whether…
The General Data Protection Regulation (GDPR) was a game-changer when it came into force on May 25, 2018. Five years later, the impact of GDPR is still profound, with ongoing changes in enforcement and new precedents being set by courts and regulators. The question today is not whether you were ready back then, but whether your business is still compliant and up-to-date with the latest developments.
A quick recap: what is GDPR?
GDPR is a comprehensive data protection regulation that applies to any business that processes personal data of EU citizens, regardless of where the business is located. It introduced stringent requirements for data processing, gave individuals more control over their personal data, and imposed hefty fines for non-compliance.
Key areas of focus in 2025 and beyond
- 1. Evolving regulatory landscape: Regulatory authorities across Europe have continued to refine their interpretation of GDPR, leading to evolving best practices. Businesses must stay informed about changes and adapt accordingly. Recent court rulings have clarified ambiguities in the original text, making it crucial to regularly review compliance practices.
- 2. Enhanced rights for individuals: GDPR granted individuals powerful rights, such as the right to access, rectify, and delete their data, as well as the right to data portability. These rights have been actively exercised, and businesses have had to adapt. In 2024, there’s increased emphasis on the transparency of data processing and the ease with which individuals can exercise their rights.
- 3. Data breaches and incident response: Data breaches continue to be a major concern. The GDPR mandates that breaches be reported within 72 hours of discovery. Companies must ensure that they have robust incident response plans in place, regularly updated and tested, to avoid severe penalties and reputational damage.
- 4. Cross-border data transfers: The Schrems II ruling in 2020 invalidated the EU-U.S. Privacy Shield, complicating international data transfers. Since then, businesses have had to rely on Standard Contractual Clauses (SCCs) or other mechanisms, which require thorough risk assessments. In 2024, ensuring lawful international data transfers remains a critical compliance challenge.
- 5. The role of data protection officers (DPOs): DPOs play a crucial role in ensuring ongoing compliance. The complexity of GDPR compliance has increased, and the role of the DPO is more important than ever. Companies need to ensure that their DPOs are adequately resourced and trained to handle emerging challenges.
Staying compliant in 2025 and beyond
Staying compliant with GDPR is not a one-time effort but an ongoing process. Regular audits, staff training, and updates to data protection policies are essential. Here are some steps to ensure continued compliance:
- Conduct regular data audits: Regularly audit your data processing activities to ensure they align with GDPR requirements and reflect current business operations.
- UPdate privacy policies: Review and update your privacy policies to ensure they are clear, accessible, and transparent, addressing all current legal obligations.
- Train your staff: Continuous training for staff on GDPR and data protection best practices is crucial to maintain a culture of compliance.
- Monitor regulatory updates: Keep a close watch on updates from data protection authorities and adapt your practices as needed.
GDPR is here to stay, and as regulatory expectations evolve, so must your approach to compliance. Whether you’re a small business or a large corporation, ongoing vigilance is key to staying compliant and protecting your customers’ data.
Disclaimer
Any information shared is for informational purposes only and should not be deemed as official professional legal, financial, and/or business advice by Payoneer. Payoneer has not verified this information and does not guarantee its ac
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