Despite the myriads benefits that come with
digitalization, there is a critical issue that can’t be disregarded any
longer: the appropriate and inappropriate use of data in digital form.
Digital data has been easily accessible to organizations, and privacy
laws in recent past have been almost non-existent. The 1995 Data
Protection Directive created by the European Union is now obsolete as
technology has evolved over the years. Driven by various privacy
scandals and data leaks, the EU revised this directive by introducing The General Data Protection Regulation (GDPR).
The GDPR is a new and tight directive that aims to
improve protection for personal data and harmonize the different laws
surrounding it among EU member states.
Who is affected by GDPR?
Beginning May 25, 2018, any organization that
processes and holds personal data of EU citizens will be affected. It
doesn’t matter if that organization is based in the EU or elsewhere.
Organizations who fail to comply with this regulation risk serious
penalties. The minimum fine for defying the new rule amounts to twenty
million Euros or 4% of the organization’s global turnover (whichever is
higher).
Meeting GDPR requirements with e-signatures
In light of the fresh requirements, many
organizations must seriously review their data handling processes, the
applicability of GDPR, and the things they may need to implement to
ensure compliance.
Here is how electronic signatures can help you seal the liability-gaps in two key areas targeted by the GDPR: data contracts and consent.
Read More - https://www.esigngenie.com/blog/electronic-signatures-for-organization/