Alert BDO: Safe Company No. 12/2020

Just before Christmas, a time of rest and joy of spending time with our loved ones, we bring to you another issue of our “Secure Company” alert, and take this opportunity to wish you all the best and a healthy, cheerful Christmas holiday filled with good will.

In this issue you will find information on activities relating to counteracting money laundering and terrorist financing (AML), as well as interesting GDPR and cyber security related information.

This time we want to draw your attention to the Ministry’s of Finance plans for a new system to track financial transactions, meant to aid in the fight against money laundering, as well as to two GDPR related issues. The first is the UODO’s decision with indications how to properly understand proper protection of data processing in IT system. The second is a reminder of some of the rules of “non-incidental” processing of data, including employee data.

As always, we wish you a pleasant read, and should you require more or more detailed information, please don’t hesitate to contact our company and experts.