tmgroup announce GDPR compliance as industry continues to rise to the challenges posed by fraudsters
PropTech company tmgroup are pleased to announce that they are GDPR compliant – following an intensive review process led by independent data protection officer, Richard Benham.
Replacing the Data Protection Directive (DPD) and the UK Data Protection Act 1998 as of 25th May 2018, the General Data Protection Regulations (GDPR) are new regulations set out by the European Union – with basic principles including accuracy, transparency and fairness.
Referred to by Thomson Reuters in a recent article as “the biggest shake-up of data privacy laws since the birth of the web and the largest change in data protection law in Europe for more than 20 years.”, GDPR marks a significant step towards tackling fraud and cyber crime.
This is just the tip of the iceberg. Looking to the future, the property sector will continue to see big changes; creating new opportunities for businesses such as tmgroup who are willing and able to adapt.
As the industry continues to embrace innovative ideas for keeping property transactions secure, blockchain is expected to be the next disrupter. By enabling information to be shared but – crucially – not copied, it is predicted to not only speed up the property transaction, but also be a key player in the elimination of property fraud.
Achieving GDPR compliance involved every department across tmgroup
tmgroup take data management seriously and involved every department across the business – from HR, marketing and operations, to development and finance – in a dedicated GDPR project over many months.
By reviewing all data alongside every process, the GDPR team ensured that tmgroup were ready for the new regulations coming into effect on 25th May 2018.
Prof. Richard Benham, independent data protection officer comments:
“I’ve been delighted to work with tmgroup over the last 6 months helping them achieve GDPR compliance. As a digital business, customer data security is of paramount importance.
By meeting the GDPR deadline, tmgroup have demonstrated their ability to adapt to changes in the market, as well as their ongoing commitment to keeping their customer’s data safe”.
Joe Pepper, chief executive officer at tmgroup comments:
“Our customers rely on our products and platforms to carry out critical work for their clients in a highly regulated environment, and the security of data is of paramount importance to them and all our partners.
Ensuring that tmgroup and all of our products comply with the new legislation has been a significant but crucial piece of work, and we are delighted with the way that Richard and the team have approached the task.”
Paul Albone, chief operating officer at tmgroup comments:
“The programme which Richard has overseen involved every area of the business, with all of our employees becoming key stakeholders in the project. Their involvement has ranged from leading workgroups, undergoing cyber security training and of course ensuring compliance of their own data through our robust HR processes.”