The General Data Protection Regulation (GDPR) imposes new rules on organizations that offer goods and services to people in the European Union (EU), or that collect and analyze data tied to EU residents, no matter where they are located. Most people in the US don’t know or don’t think this affects them, but he key phrase is “no matter where they are located” is what US business should be worried about. It means if you offer a service in Europe or just have a website that people in Europe can access and provide information, this may affect you too.
There are 4 key components of the GDPR:
- Enhanced personal privacy rights – Consent must be clear and distinguishable from other matters and provided in an intelligible and easily accessible form, using clear and plain language. It must be as easy to withdraw consent as it is to give it.Part of the expanded rights is the right for data subjects to obtain from the data controller confirmation as to whether or not personal data concerning them is being processed, where and for what purpose. Also Data Erasure entitles the data subject to have the data controller erase his/her personal data, cease further dissemination of the data, and potentially have third parties halt processing of the data.
- Increased duty for protecting data – Privacy by design is becoming part of a legal requirement with the GDPR. Privacy by design calls for the inclusion of data protection from the onset of the designing of systems.
- Mandatory breach reporting – Breach notification will become mandatory in all member states where a data breach is likely to “result in a risk for the rights and freedoms of individuals”. This must be done within 72 hours of first having become aware of the breach.
- Significant penalties for non-compliance – Organizations can be fined up to 4% of annual global turnover for breaching GDPR or €20 Million.
To get the full details of the GDPR, visit this link: https://www.eugdpr.org/eugdpr.org.html