The General Data Protection Agreement (GDPR) is a regulation that was put in place by the European Union (EU) to protect the data privacy of individuals within the EU. It was enforced on 25th May 2018, and it applies to all companies that process the personal data of individuals within the EU, regardless of where the company is based.
The GDPR has been designed to give individuals greater control over their personal data, and it imposes strict rules on how their data can be collected, processed, and stored. The regulation requires companies to obtain explicit consent from individuals before processing their data and also gives them the right to access and request the deletion of their personal data.
The GDPR also requires companies to take measures to protect the personal data they collect and process. They must implement appropriate technical and organizational measures to ensure that personal data is secure, and they must notify individuals of any data breaches that occur within 72 hours.
Fines for non-compliance with the GDPR can be significant, with the maximum penalty being up to 4% of a company`s global annual revenue or €20 million, whichever is greater.
The GDPR has a significant impact on many aspects of the digital world, including email marketing, website analytics, and social media advertising. Companies must ensure that the data they collect and process is done so with the utmost care, and they must be transparent about what data they are collecting and why.
Businesses that want to comply with the GDPR must appoint a Data Protection Officer (DPO) to oversee the company`s compliance with the regulation. The DPO must be an expert in data protection and have a good understanding of the company`s data processing activities.
In conclusion, the GDPR is an essential step towards protecting individuals` personal data and their privacy rights. It is essential for companies to comply with the GDPR to avoid hefty fines and to maintain the trust of their customers. Companies must take the necessary steps to ensure that personal data is collected, processed, and stored appropriately and that individuals` rights are respected at all times.