Case studies

Case Study: How My Data Solution Ensured GDPR Compliance and Reduced Risks for a Financial Sector SME.

Introduction

Compliance with General Data Protection Regulation (GDPR) compliance is crucial for modern businesses. With stringent requirements and severe potential penalties, ensuring compliance is essential to avoid penalties and protect customer data. This article explores the impact of a External Data Protection Officer (DPO) through a detailed case study, demonstrating how a company was able to improve its compliance and data security thanks to the intervention of an external DPO.

Corporate context

Company presentation

An SME in the financial sector, specializing in investment portfolio management, was facing critical data protection challenges. With a customer database including sensitive financial information, the company was vulnerable to cyberattacks and data breaches. What's more, it needed to quickly comply with RGPD requirements to avoid regulatory penalties.

The company turned to My Data Solution for :

-Identify data security risks.

-Implement an RGPD compliance plan.

-Train employees in secure data management.

Initial problems

Prior to the intervention of the external DPO, E-Com Solutions was facing several RGPD compliance challenges:

1. No structured security policy

The company lacked clear data protection policies. This exposed sensitive information to the risk of leakage or unauthorized access.

2. Non-Compliance with RGPD

Procedures were missing to ensure RGPD compliance, particularly with regard to customer consent for the processing of their data, and the management of user rights (right to erasure, data portability).

3. Lack of team awareness

Employees were not trained in data protection best practices. This increased the risk of human error leading to data breaches.

Intervention objectives

The main objective of the Outsourced DPO Services was :

Improving compliance to the RGPD.
Set up clear procedures for data management.
Raise awareness and train staff in data protection practices.
Document data processing processes.
Reduce the risk of data breaches and non-compliance.

My Data Solution

Security Audit and Data Mapping

My Data Solution began with a complete audit of the SME's data management systems and processes. This identified :

-Entry points vulnerable to cyber attacks.

-Sensitive data stored without adequate protection.

-Internal and external data flows requiring better monitoring.

Next, complete data mapping was carried out, enabling us to understand where and how personal data was stored and processed.

RGPD Compliance

My Data Solution took charge of the entire process of RGPD compliance in :

-Implementing data minimization policiesThis was done to ensure that only the necessary information was collected and processed.

-Setting up consent management procedures to ensure that all customers had given their consent for their data to be processed.

-Establishing a individual rights managementThis allows users to request access, correction or deletion of their data at any time.

Reinforcement of Safety Measures

The My Data Solution team has introduced several cybersecurity measures to protect sensitive information:

-Encryption of stored and transmitted data.

Multi-factor authentication for system access reviews.

-Continuous system monitoring to detect any attempted security breach.

Team training and awareness

My Data Solution has organized specific training sessions for employees to raise awareness of data protection best practices, including:

-Password and access management.

-Recognition of phishing attempts.

-Secure handling of customer data.

Setting up an Incident Response Plan

A contingency plan was drawn up to react quickly in the event of a data breach. This plan included:

-A protocol for notifying the relevant authorities within 72 hours.

-Internal communication to keep teams informed and respond effectively.

-Procedures to limit the impact of breaches and secure data at risk.

Results obtained

Improving Compliance

RGPD compliance achieved in 3 months

Thanks to My Data Solution's expertise, the company has implemented all RGPD requirements, reducing the risk of financial penalties and boosting customer confidence.

60 % reduction in data leakage risk

With the new data security strategy, the weak points identified during the audit have been corrected, and the protective measures have considerably reduced the risk of cyber-attacks.

Improving Employee Awareness

The training provided by My Data Solution has raised awareness among 100 % employees of data protection issues and the importance of complying with new internal policies.

Internal Process Optimization

The implementation of new policies and tools has enabled the company to better manage its data flows, reducing internal errors and boosting the overall efficiency of its systems.

Conclusion

This case study shows how My Data Solution enabled a financial SME to strengthen its data protection practices, while achieving full RGPD compliance. By adopting a methodical approach, My Data Solution offers its customers tailor-made support, helping them to proactively manage risks and ensure the security of their most valuable assets: their data.

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Positions to be filled:

Sales - freelance contract

In existence for 5 years, the MDS group (25 employees, ~€2 million in sales) provides consulting, auditing, training and consulting services.

Positions to be filled:

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