Blog: Comply with GDPR or risk a £17.5m fine
It’s one year until GDPR data regulations are fully in force. Data expert Steve Sands of Synectics Solutions explains what this means for brokers and urges them to act now.
The GDPR replaces the Data Protection Act and affects all UK companies who process or store personal information, meaning brokers will have to sit up and take notice.
It’s focused on looking after the privacy and rights of the individual, and based on the premise that consumers and data subjects should have knowledge of what data is held about them, how it’s held, how it’s used and other information that the Data Protection Act did not demand.
The main differences between the GDPR and the Data
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