The GDPR in Monaco: What You Need to Know
The GDPR applies to Monegasque companies processing data of EU residents. Monaco is adapting its legislation to align with European standards, with the adoption on 3 December 2024 of Law No. 1.565, which strengthens the protection of personal data. This development aims to achieve the status of an "adequate level of protection," facilitating data exchanges with the EU.
GDPR Audit Steps:
1) What is the General Data Protection Regulation (GDPR)?
The General Data Protection Regulation (GDPR) is a European legislation that came into effect in 2018, aimed at strengthening and harmonising the protection of personal data within the European Union. It requires companies and organisations to implement strict measures to ensure the confidentiality, integrity, and availability of the personal data they process.
The GDPR also grants individuals enhanced rights over their data, such as the right of access, rectification, and erasure.
2) Obligations of Businesses
Monegasque businesses, traders, and artisans must comply with both local law and the GDPR when their activities involve data from EU residents. This includes appointing a Data Protection Officer, conducting audits, implementing security measures, and registering with the Data Protection Authority (APDP, formerly CCIN). It is essential to review your data collection and processing practices to ensure compliance.
3) Risks and Sanctions
Penalties for non-compliance with the GDPR can be severe. In Monaco, fines can reach up to 10 million euros. In addition, businesses face reputational risks and the potential loss of customer trust. It is crucial to take data protection seriously to avoid these potentially devastating consequences.
This service will allow you to assess your current level of compliance and identify the priority actions to be implemented.
4) Our GDPR Audit Offer
To help you navigate these new obligations, we offer a GDPR audit for a fixed fee of :