GDPR or the General Data Protection Regulation is an attempt to boost data protection and security for European Union citizens.
However, it bears global interest for companies around the world as it affects organizations that collect data from EU citizens. The regulation directly impacts a vast number of organizations that do business in Europe.
Since the regulation is set to go into effect on May 25, 2018, it is very important to know how GDPR could impact your business.
Whether you are located in the UK or are outside the UK, GDPR can impact your business in 7 ways:
1. Any breach must be disclosed.
Data controllers who experience a breach of personal data privacy will need to report it immediately and may also have to notify the individuals affected.
2. Consent must be explicit.
Citizens will be able to ask the tough questions about what is happening with their data, and companies will be required to answer those questions.
3. Systems must be retooled.
Organizations must show that they have built-in privacy for workflows and processes in an approach sometimes known as Privacy by Design.
4. Companies must identify a go-to person.
Organizations of significant size will need to appoint a Data Protection Officer (DPO) who monitors internal compliance and can be called on by DPAs.
5. The definition of personal data is broad.
Personal data covers professional, public, and private life activities of users. It also embraces everything from names, addresses, contact information, images, IP addresses, social media posts, and medical information.
6. The policy applies to all of the EU.
All European Union member states must operate under a single rulebook and the EU will try to unite the Supervisory Authority bodies of individual member states.
7. Erasure becomes a universal right.
Sometimes known under its previously expanded iteration as “the right to be forgotten,” this allows individuals to request personal data related to them to be deleted.
The GDPR is the most high-profile legislation to date that is expected to affect information technology and the management of personal data in many years. It creates a new line in the sand for data management and protection.
To gain further insights into how the GDPR can impact your business, click the link below for more information.