The European General Data Protection Regulation (GDPR) comes into full effect on 25 May 2018. Designed to increase protection of individuals’ rights and freedoms, GDPR has strengthened rivacy rules, thus increasing the companies’ privacy obligations. Stakes are high as administrative fines can reach Euro 20 million or 4% of an organisation’s global turnover (whichever is greater), but the true cost in the case of a severe data breach is obviously the loss of reputation and potential claims.
The factors in shipping which are perceived to have the potential for increased risk are ballast water management legislation, cyber security, geopolitics, operating costs and other changes to laws and regulations
Confidence continues to edge upwards
In today’s fast-paced world of information oversupply, where news spread like wildfire and people simply do not have the time to fully analyze what they are bombarded with by the media, what seems to matter most is the headlines and the impressions they create, rather than the underlying facts.