The Importance of GDPR Compliance for Your Business

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GDPR
GDPR

Many organizations doing business in the EU are scrambling to comply with the European Union’s General Data Protection Regulation (GDPR). But what exactly is GDPR, and how will it affect your business? GDPR is a regulation in the EU in response to the UK leaving the EU. Organizations that fail to comply with GDPR can be fined up to 4% of their annual global revenue. Keep reading to learn about GDPR and how your business can become compliant.

What is General Data Protection Regulation (GDPR)?

The General Data Protection Regulation (GDPR) is a new EU data protection law enacted on May 25, 2018. The GDPR replaces the 1995 EU Data Protection Directive. Under GDPR, EU data protection rules were strengthened by giving individuals more control over their data and establishing new rights for individuals. The GDPR applies to all businesses regardless of size or location. Businesses that process the personal data of EU citizens must comply with GDPR unless they can demonstrate that they meet certain conditions.

These conditions include having a representative in the EU, appointing a Data Protection Officer (DPO), and implementing appropriate technical and organizational measures to protect personal data. Fines for non-compliance can be significant – up to 4% of a company’s global annual revenue or €20 million, whichever is greater. In addition, businesses that suffer a data breach must notify affected individuals within 72 hours of discovering the breach. Businesses should be aware of the different types of data breaches. A data breach can be classified as a breach of security or a breach of contract.

A breach of security occurs when protected information is accessed without authorization, while a breach of contract occurs when information is released in a manner that violates the terms of a contract or agreement. Notifying individuals of a data breach can be tricky. Businesses must consider several factors, such as the type of data that was compromised, the number of individuals affected, and where the breach occurred. In some cases, businesses may be required to provide written notice, while in other cases, they may be able to provide notice by email or telephone.

What personal data is protected under GDPR?

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The GDPR defines personal data as any information relating to an individual, including name, address, email address, IP address, and genetic data. Personal education data can be included, like if you obtained an associate business management degree in the past. It also includes information about an individual’s sex life, political opinions, religious beliefs, and trade union membership. Organizations that process personal data must take steps to protect it from accidental or unauthorized access, alteration, or destruction. They must also ensure that the data is quality controlled to protect against unauthorized access, alteration, or destruction.

The GDPR requires organizations to obtain explicit consent from individuals before collecting, using, or sharing their data. The consent must be clear, concise, and easy to understand. It must also be easy for individuals to withdraw the consent if they change their minds.

How do you manage data subjects’ rights?

Managing data subjects’ rights under GDPR can be difficult for businesses, but there are several steps you can take to ensure compliance. First, you need to understand what rights individuals have under GDPR. You also need a process in place for handling requests from individuals who won’t exercise their rights under GDPR. This process should include a system for tracking requests and responding promptly.

You may also need a system for communicating with individuals who have questions about their data or how it is being processed. Finally, you need a plan for securing personal data from accidental or unauthorized access, destruction, alteration, or unauthorized use or disclosure. You should also have procedures for regularly testing your security measures and updating your security plan as necessary.

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