UiPath for Compliance, a GDPR Automation Solution
The list of global legal regulations is long: PCI standards, regulation SCI rules, FISMA regulations, FCPA rules, HIPAA privacy standards, and more. Because all businesses — regardless of industry, geography, size, and revenue — are subject to regulatory compliance, it’s easy to get bogged down by the acronyms. And the European Union Parliament has approved the newest addition to this growing list of legal acronyms, the General Data Protection Regulation (GDPR).
GDPR harmonizes and unifies data privacy laws across Europe, with the aim of strengthening data protection for EU citizens and giving individuals better control over their personal data (whether it’s a name, an address, a picture or social media post, or medical information). All European organizations, as well as non-European organisations collecting data concerning EU citizens, are expected to be GDPR compliant by May 25th, 2018.
Though the importance and urgency of GDPR’s improvements are clear, various challenges exist in implementing the controls required for adherence, and maintaining compliance remains an area of risk, with non-compliance carrying fines of up to €20 million, or 4% of a company’s annual global turnover.