PERSONAL CUSTOMER’S DATA PROTECTION: NORMATIVE REQUIREMENTS IN UKRAINE AND EUROPEAN UNION

Abstract

Purpose is to analyze a normative framework, which regulates area of personal data protection, present the main examples of legislation in use on Ukrainian market, stress up the top priority sections of a new EU General data protection regulation (GDPR), provide recommendations on GDPR implementation in comparison to existing EU Data protection Directive. Methodology of research. The basis of the research work assigned as general (analysis, observation) and special methods of cognition. Methods of analysis and observation used to explore the problems during implementation of new legislation. Methods of cognition used for substantiation of importance to be comply with legislation in terms of data. Findings. The research highlights the main requirements for personal data protection in Ukraine, legislation that regulates this area and supervisory bodies. Furthermore, research has detail analysis of the main legal requirements of the European Union in the field of personal data protection. Allocated the key differences, in comparison between the existing legislation and the new requirements. Analyzed General data protection regulation and provided recommendations on implementation of the highest priority areas, with a detail description of controversial moments. Also explained consequences that can have a non-compliance with the new legislation for companies which work with personal data of EU customers. This research can be used as a practical guide for implementation of GDPR or align structure and policies in area of personal data protection to international best practice. The research represents options of GDPR implementation and provides expert opinion on the organization of a workflow and project plan which allows completely implement the legislative changes in time. Originality. The recommendations on introduction of modern approaches to the protection of personal data were developed. Were further developed proposals to conform to international best practice structure and policies in matters of personal data protection. Practical value. Research results can be offered for introduction in activity of banks and other FIs, which will be instrumental in an effective management informative safety.