GDPR is an overhaul of existing data protection laws throughout the EU to bring legislation as a result of the significant use of personal data and the significant technological advancement over the past 20 years. Although the UK will be leaving the EU in 2019, it is anticipated that the GDPR will largely be unaffected as the UK Government has announced that it intends to adopt the new legislation in full and will remain in force post-Brexit subject to a few minor changes. With this in mind, it is important that organisations and businesses take the necessary steps to ensure that they will be compliant with the GDPR when it becomes law in May 2018 and going forward, to be aware of any changes that the UK Government proposes to the GDPR as a result of Brexit.
To complement the session, Haymarket Risk Management, a specialist consultancy which provides global services in fraud prevention, detection and investigation, risk mitigation and investigative due diligence offered an insight on how the GDPR will impact future fraud prevention, detection investigation and recovery activities. They also provided examples of the steps businesses should consider taking, in light of the GDPR, to prevent fraudulent activities as part of the overall business.