London, UK – 1 June, 2023 – Protecht's Director of Advisory & Customer Success, Gary Lynam, has been extensively quoted in the press around the fifth anniversary of the General Data Protection Regulations (GDPR) in the EU and UK to explain the impact GDPR has had on businesses affected and its implications for the future of compliance management.
Gary Lynam has a strong track record delivering large scale and complex engagements across the financial services industry, specialising in risk and compliance solutions. He is a member of the Global Association of Risk Professionals and has a MSc in Finance and Capital Markets. For over four years, Gary has lead Protecht's EMEA organisation as Director of Advisory. He has deep experience in risk management as both a practitioner and as a consultant in banking and financial services.
Gary is featured in Infosecurity Magazine, a multiple-award winning information security publication, pointing out that GDPR fines have been a wake-up call to organisations of all sizes and at all stages of risk maturity:
“With the likes of TikTok, British Airways and Ticketmaster being among the prominent names to have received fines, GDPR is clearly by no means a simple tick box process.”
At GRC World Forums, a trusted information source for risk professionals throughout the technology buying cycle, Gary highlights the large and diverse range of companies to have had fines issued:
“A total of 1,446 fines have been issued since 2018 all varying in amount and addressing different sized companies and violations.”
In Training Journal, a publication for the learning and development industry, Gary notes the key drivers behind GDPR fines. He also covers this ground in cybersecurity journal Cyber Protection Magazine:
“The escalation of fines and penalties… can largely be attributed to the tremendous increase in the volume of data organisations have to collect, protect, and process year on year. However, the complexity of data processing is a big factor here too.”
In Business Leader, a magazine for entrepreneurs and business owners, Gary notes the implications of GDPR for your compliance and risk management function:
“Offline manual compliance methods have become an untenable and unsustainable means to manage GDPR in the long term. For example, if an organisation is onboarding a new vendor or third-party supplier or going through any sort of change, such as exiting or creating a new product, it will require a full Data Protection Impact Assessment.”
With both the EU and the UK committed to retaining and strengthening GDPR regulations, and other countries worldwide looking at GDPR as a model for their data privacy model, it will become increasingly important for businesses to comply with best-practice in data management. Find out more about how Protecht ERM can help you manage your compliance requirements:
About Protecht
While others fear risk, we embrace it. With offices in London, UK, Los Angeles, CA, and Sydney, Australia, Protecht redefines the way people think about risk management. We help companies increase performance and achieve strategic objectives through better understanding, monitoring and management of risk.
Protecht provides a complete solution comprised of world class risk management, compliance, training and advisory services to businesses, regulators and governments across the world. With our flagship Protecht ERM SaaS platform you can dynamically manage all your risks in a single place: risks, compliance, incidents, KRIs, vendor risk, IT and cyber risk, internal audit, operational resilience, business continuity management, and health & safety.
Contact Protecht
Craig Adams, Managing Director EMEA, Protecht Group
sales@protechtgroup.com / +44 20 3978 1360