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The Data Protection Bill became UK law on the 25th May 2018 and it will have far-reaching consequences with the potential for significant fines for violation of the new rules. While many key principles and concepts remain the same, there are several new prescriptive requirements and those found to be non-compliant, could face fines of up to €20m or 4% of global annual turnover, whichever is greater. Privacy is undoubtedly at the forefront of GDPR, in part because of the sharp rise in data breaches over the last five years, and it is hoped that by replacing out of date legislation, digital trust can be deepened. To read more about how GDPR can affect you and your spreadsheets click here on Finance Digest.
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