Caribbean firms rush to make data processing GDPR compliant

Financial institutions in Caribbean territories under the jurisdiction of the European Union are gearing up to implement the EU’s General Data Protection Regulation (GDPR)by 25 May, when the regulation becomes effective. Under the GDPR, individuals have the right to access and review their personal data and ask the company collecting the information for changes, also having the right to move the data collected to another entity.The regulations will go into effect in the Caribbean’s Dutch, French and British territories, all of which fall under EU jurisdiction.Caribbean financial leaders met to discuss GDPR compliance in Suriname at an eventinitiated by the Caribbean Telecommunications Union (CTU)and the Caribbean Community (CARICOM).