What do you know about GDPR (General Data Protection Regulation)?
GDPR is for protecting data, released by the European Parliament and the European council in 2016. Due to this GDPR, European citizens have more control over their data. GDPR holds the responsibility of customer data protection and requires firms to have an all-round approach for implementing regulations. Identifiers like genetic, mental, cultural, economic, or social are included as the identity of an individual.
Individuals have complete right over their personal data. These rights are:
- The right to be forgotten
- The right to data portability
- The right to object to profiling, Pseudonymisation and Children and Consent
Highlights of GDPR:
- As per GDPR, companies must design policies, procedures, and systems by taking PbD principles into account at the outset of every product or process development.
- Moreover, it is also advisable that companies should undergo privacy impact assessments for risky or large scale processing of personal information and also prepare data flow diagram.
- Customers should be informed that they are allowed to process data for specific purposes and can also withdraw from this consent.
- Data processors now become an officially regulated entity because on previous data processors, some obligations are made.
- For any risk of data breaches to individuals, organizations must notify supervisory authority about it without delaying and within 72 hours.
- Companies who will not follow the rules of GDPR may be imposed with hefty fines like 4% of the organization’s annual revenues or 20 million Euros, whichever is greater.
- (Data protection officer) DPOs must be appointed for conducting large scale systematic monitoring or processing of a large amount of sensitive personal data.
- GDPR makes sure that firms must take ownership of their information practices and must be responsible for involved privacy risks of doing business.
Scheme of GDPR:
- Integrated advisory and legal competency– They have 200 Certified Information Privacy Professionals (CIPPs) and Privacy Lawyers over 75 countries.
- Comprehensive approach– Responsible for governance, data controller and processor and delivering data privacy and protection of any firm.
- Automation– Provides end to end solution on client tools.
- Global insights– GDPR has worked with European and national regulators in numerous ways.
For more great content like this, subscribe to our monthly newsletter:
[newsletter]