The new General Data Protection Regulation (GDPR) comes into effect on May 25 and according to a recent survey by the Institute of Directors (IoD) only six in ten company directors are confident that they will be fully compliant with the new law.
Under GDPR, individuals must opt-in whenever data is collected on them, currently many firms only give customers the option to opt-out.
If businesses fail to comply they would face extra audits and be forced to delete data. Ultimately they could be issued with fines of a maximum of 4pc of their annual turnover or £17.6m whichever is greater.
If you require any assistance with GDPR and how to ensure you are compliant, please call Stripes Solicitors 0161 832 5000