EU General Data Protection Regulation (GDPR)
What is GDPR and why is GDPR important?
In 2016, the European Commission approved and adopted the new General Data Protection Regulation (GDPR). GDPR is a significant change in data protection regulation in the EU and replaces the existing legal framework (the Data Protection Directive and the various member state laws). It will come into effect on May 25, 2018.
GDPR adds some new requirements regarding how companies should protect individuals' data that they process. It also raises the stakes for compliance by increasing enforcement and imposing greater fines for breach. We are following the developments about GDPR and are taking steps to prepare for compliance.
Does GDPR require that my information be stored in the EU?
No. Under GDPR, a company is allowed to transfer personal data outside of the EU provided that it puts in place a mechanism, approved under GDPR, to make sure that personal data is adequately protected even when it is transferred outside of the EU. We have certified under the EU-U.S. and Swiss-U.S. Privacy Shield frameworks to satisfy this requirement (more detail in the Privacy Shield tab).
What is ProfitWell doing to comply with GDPR?
We are implementing changes
Our compliance, data protection, and information security teams are working to prepare our services for GDPR. We are reviewing our data processing activities, and assessing and prioritizing any changes that need to be made in advance of the GDPR effective date.
We are here for you
We are working with our customers to answer any questions and address any concerns regarding how we protect their personal data and gearing up for GDPR. If you have any questions, please don't hesitate to contact us at firstname.lastname@example.org.
We have addressed cross border data transfers
Like the Data Protection Directive that is presently in effect, GDPR includes provisions on international data transfer mechanisms. In order to comply with these provisions we have certified under the EU-U.S. and Swiss-U.S. Privacy Shield frameworks, a mechanism that had been approved for cross border transfer of personal data under the Directive and expected to apply under GDPR as well.