As a UK business owner, complying with data protection rules is in your commercial interest. Most business owners do so for three main reasons: reputational, financial and moral. No company wants to be associated with law-breaking through online news articles and social media posts. This article will explore how full compliance with the General Data Protection Regulation (GDPR) can save you substantial sums of money. This should help your organisation spend funds on things that will drive profit rather than excess spending linked to non-compliance with data protection rules.<\/p>\n\n\n\n
The General Data Protection Regulation (UK GDPR) is the main piece of UK data protection law. It sets out numerous rules on how UK businesses should store and process personal information. <\/p>\n\n\n\n
The GDPR aims to guide UK organisations on the safe storage and processing of personal data, so individuals can be confident that their sensitive information is not misused. Many business owners are already well aware of the GDPR due to the various online and media articles concerning the Information Commissioner’s Office (ICO)<\/a>. However, most attention regarding the ICO relates to its ability to fine UK organisations up to \u00a317.5m for GDPR violations<\/a>. <\/p>\n\n\n\n The ICO can hand down such substantial fines to UK businesses to deter UK businesses from ignoring the GDPR. Whilst the GDPR is complex and lengthy, the consequences of violating its rules are so severe that many UK business owners obtain expert advice to ensure they comply with its regulations.<\/p>\n\n\n\n The UK Government gave the ICO powers to provide such hefty fines to motivate good levels of GDPR compliance. So far, the strategy has been mostly successful.<\/p>\n<\/div>\n\n\n\n It is worth noting that the ICO\u2019s primary concern is to encourage UK organisations to comply with the GDPR rather than simply fining them. In this way, it is worth checking out the ICO website and their online guidance documents, which aim to help UK organisations understand GDPR rules. This is particularly the case given that the ICO gives no leeway to arguments of ignorance or \u2018not understanding data protection rules\u2019 when setting fine levels.<\/p>\n\n\n\n Now that we appreciate how the GDPR and ICO work let us explore three ways GDPR compliance<\/a> can save your business money.<\/p>\n\n\n\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\nWhy Are ICO Fines So High?<\/h2>\n\n\n\n