The internet has changed the way most people operate and communicate, right down to everyday tasks. People share emails, documents, and even pay their bills using the internet. This means that a tremendous amount of personal information has been shared online.
It is important to protect this information. That is where the new privacy regulation in Europe, called GPDR (General Data Protection Regulation), comes into play. This law has forever changed the way businesses are able to collect, store, and use the data they collect from their consumers.
Sadly, the vast majority of companies know next to nothing about GPDR and the regulations that have been put into place. It is critical for businesses to know 10 ways GPDR can impact businesses as well as how businesses can use these regulations effectively.
First, companies need to make sure that individuals are able to access their own personal data easily. Everyone who has their data collected by a company has the right to access it and see what information the company has gathered. Free of charge, companies need to provide a copy of this data in the format requested by the consumer. Companies that are able to do this in a timely manner will be able to effectively handle GPDR requests.
Furthermore, customers also have the right to be forgotten. There are some cases where customers are no longer customers of that company. These customers might also retract their permission for the company to store and use their personal data. If the customer requests this to happen, the company is required to delete the customer’s data. Therefore companies also need to have a process in place to do this in an efficient manner.
In addition, customers are required to be notified in their data has been compromised. This happened recently to the large credit bureau called Equifax, where millions of people had their data compromised. If something similar happens to any company, that company needs to notify their customers right away. Under GPDR regulations, this has to be notified within 72 hours of the breach having been noted.
This gives customers a chance to protect themselves from any fallout that might result from the breach. In order to remain compliant with GPDR, these companies need to protect the data of their customers from such breaches. With the amount of personal data they store, criminals could wield a tremendous amount of power with this data in their hands.
These are only a few of the many important points that companies need to keep in mind when it comes to GPDR. By understanding the regulations surrounding GPDR, companies can prepare themselves to use these regulations in an effective manner. It is the responsibility of these businesses to protect people’s personal data in this interconnected world.
If you are interested in even more business-related articles and information from us here at Bit Rebels, then we have a lot to choose from.
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