Repordime: Elevating financial close, empowering data-driven decisions.

The General Data Protection Regulation (GDPR) is a comprehensive data protection law enacted by the European Union (EU) to strengthen and unify data protection for individuals within the EU. It aims to give individuals more control over their personal data and to hold organizations accountable for how they handle that data.

Key Principles:

• Lawfulness, Fairness, and Transparency: Data processing must be lawful, fair, and transparent to individuals.

• Purpose Limitation: Data must be collected for specified, explicit, and legitimate purposes.

• Data Minimization: Data collected should be adequate, relevant, and limited to what is necessary.

• Accuracy: Data must be accurate and kept up-to-date.

• Storage Limitation: Data should be kept in a form which permits identification of data subjects for no longer than is necessary.

• Integrity and Confidentiality: Data must be processed in a manner that ensures appropriate security, including protection against unauthorized or unlawful processing and accidental loss, destruction, or damage.

• Accountability: The data controller is responsible for and must be able to demonstrate compliance with the GDPR.

Rights of Individuals:

• Right to be informed: Individuals have the right to be informed about how their personal data is being processed.

• Right of access: Individuals have the right to obtain confirmation of whether or not personal data concerning them is being processed, and, where that is the case, access to the personal data.

• Right to rectification: Individuals have the right to obtain rectification of inaccurate personal data concerning them.

• Right to erasure: Individuals have the right to obtain the erasure of personal data concerning them without undue delay.

• Right to restriction of processing: Individuals have the right to obtain restriction of processing of their personal data.

• Right to data portability: Individuals have the right to receive the personal data concerning them, which they have provided to a controller, in a structured, commonly used, and machine-readable format and have the right to transmit those data to another controller without hindrance.

• Right to object: Individuals have the right to object to the processing of their personal data on grounds relating to their particular situation.

• Rights in relation to automated decision-making, including profiling: Individuals have the right not to be subject to a decision based solely on automated processing, including profiling, which produces legal effects concerning them or similarly significantly affects them.

Compliance and Enforcement:

Organizations that handle personal data of individuals within the EU must comply with the GDPR. Failure to comply can result in significant fines, which can reach up to 4% of an organization's annual global turnover or €20 million, whichever is higher.

It is crucial for organizations to conduct a thorough data protection impact assessment (DPIA) to identify and mitigate risks associated with data processing activities.

Additional Considerations:

• The GDPR applies to both controllers and processors of personal data.

• Data protection by design and by default principles should be embedded in data processing activities.

• Cross-border data transfers must comply with specific requirements, such as the use of standard contractual clauses or approved codes of conduct.

Our Commitment to GDPR Compliance

At Repordime, we prioritize the protection of our customers' personal data and are fully committed to adhering to the rigorous standards outlined in the General Data Protection Regulation (GDPR). We understand the importance of safeguarding individuals' privacy rights and have implemented robust data protection measures across our organization. Our commitment extends to transparently communicating our data practices, providing individuals with control over their personal information, and ensuring the highest levels of security to prevent data breaches.

Ensuring GDPR Compliance

To maintain GDPR compliance, we have established comprehensive data protection policies and procedures. Our team undergoes regular training to stay updated on the evolving regulatory landscape. We conduct thorough data assessments to identify and manage risks, implementing appropriate technical and organizational measures to protect personal data. Additionally, we empower individuals with their rights, such as access, rectification, and erasure of their data. By fostering a culture of data privacy within our organization and collaborating with trusted partners, we strive to exceed GDPR requirements and build lasting trust with our customers.