Odyssey and IBM’s successful event on GDPR

Odyssey™ and IBM organized and delivered the event “EU General Data Protection (GDPR). Get prepared and plan ahead to protect your sensitive data”, which took place on Wednesday 26th of April at the Hilton Park Hotel in Nicosia and was a great success.

The main purpose of the event was to inform organizations and businesses collecting, storing and/or processing personal data of EU citizens about the need to review the procedures for the management and protection of such data.

During the event, Odyssey™and IBM representatives analyzed the framework and challenges derived from the EU’s new General Data Protection Regulation 2016/679 (GDPR).

Furthermore, they analyzed the approach and methodology that organizations and businesses should follow in regards to the effective management of personal data (data governance).

Finally, they presented the available technology solutions for the management and protection of personal data.

A few words about the EU General Data Protection Regulation 2016/679 (GDPR)

In the era of abundant collection and processing of personal data, of Big Data and Cloud Computing, the GDPR aims to extend the protection of personal data, ensuring that this protection is an established and fundamental right of every European citizen.

GDPR applies to organizations of any size, even if they are located outside of the EU, as long as they are collecting, storing and/or processingpersonal data of EU citizens. Therefore, all such organizations and businesses must comply with the regulation by reviewing and/or redesigning their information management and protection procedures.

The new regulation empowers the European Data Protection Authorities to impose fines of non-compliance to organizations and businesses of up to €20 million or 4% of their total annual worldwide turnover, whichever is higher.

The Regulation goes into full effect on May 25th, 2018, thus giving businesses time to properly prepare and comply with the new framework.