White Papers for Basel II Capital Accord (Basel II)

Managing Privacy and Data Protection Issues in a Multinational Environment

Vericept

In today’s global economy most large enterprises are multinational, deriving the bulk of their revenue and profit outside of their original homes. In operating multinationally, employees are drawn from different countries with different customs, mores, and laws. The result is an employee having two sets of rights, one relating to his/her country, the other to the global enterprise.
This duality can lead to conflict when the enterprise’s policies and procedures differ from those permitted or required in the employees’ countries. Nowhere is this more evident than when comparing the rules and regulations surrounding an individual’s rights to privacy in the United States versus the European Union (EU). The U.S. and the EU take very different approaches to privacy and protection of personal information. Today’s multinational corporations need to be able to successfully manage these complex and very different privacy and data protection laws in order to minimize the risk of liability to their global operations.

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