If you’re an IT person, why would Brexit mean anything to you? The short answer: it doesn’t right now. At least not until we understand how Brexit will play out. In this podcast, we discuss the possible outcomes for Brexit and their effect on IT operations.
The economic implications are unclear if you’re a business in the UK working with the EU, but the UK has already agreed that their data protection rules will be similar if not identical to the GDPR. Right now, the UK is still in the EU, so GDPR is already enforced in the UK, which makes their data regulations adequate to other EU member states.
The real question is from the outside looking into the UK. Many countries consider the GDPR an adequate way to handle the processing, storing, and movement of sensitive data, but if the UK is out of the EU that all changes. That means the UK could be deemed an unsafe place to harbor data. Of course, this is all speculation, but some countries look at these standards with different scrutiny.
Conclusively, global companies are already concerned with potential fines for noncompliance with the GDPR, so how Brexit (or No Brexit) plays out won’t really change anything for IT and compliance. However, the economic implications are still very real.