Data privacy is fast becoming a business compliance risk that can no longer be ignored by nearly all industry sectors.
With the rise in the use of personal data by organisations in both the public and private sectors to enable processing of employees and customers transactions in e-commerce, banking and financial services, healthcare and in many data-driven businesses, it is imperative that such personal information be collected, processed and stored to protect data subjects and to ensure compliance with relevant and applicable Data Protection regulations. These regulations seek to ensure that the storage, processing, and transmission of personal data are in accordance with applicable legal requirements.
In response to the many reported breaches of personal data entrusted to organisations, we are seeing the strengthening of existing regulations in some jurisdictions and the introduction of new guidelines in others where there were no prior Regulations in place. The EU General Data Protection Regulation (GDPR) is a prime example and one of the most comprehensive and widely adopted, designed to regulate how businesses process, collect, handle, disclose and transfer personal data of EU citizens within and outside the EU. Similarly, in 2019, the Nigeria Data Protection Regulation (NDPR) was issued by the Nigerian Information Technology Development Agency (NITDA), to ensure that the processing of personal data of Nigerian citizens by private organisations and public institutions are in line with similar data protection regulations seen around the World.
Given the inextricable links between personal data breaches and financial frauds, and with several years of operational experience securing financial transactions with World-class data security and fraud monitoring solutions , MAXUT Consulting has a deep and unique understanding of the risk and broader implications of data privacy compromises in practically every electronic transaction. We understand how to address and manage data protection risks while taking into cognizance other existing regulations driving the sector such as PCI-DSS and ISO27001, to minimise duplication of efforts and resources, and to quickly drive privacy compliance. We are only too aware of the severity, cost and disruptive consequences of data breaches and are duly equipped to foresee, prevent or mitigate the risks to our customers.
MAXUT is a licensed Data Protection Compliance Organization (DPCO) authorized under the NDPR regulation to work with clients in audit and compliance activities. The Practice is led by seasoned personnel with extensive GDPR experience, legal compliance and data security expertise.
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