The General Data Protection Regulation (GDPR) requires companies to adhere to strict data privacy strategies to avoid penalties. If you own a business and don’t know where to begin, check out this GDPR guide to get you started. These tips will help you uphold the GDPR standards and avoid fines.
What is GDPR?
The GDPR is a European Union (EU) regulation that became effective on May 25, 2018. The GDPR sets out the rules for how personal data must be collected, processed, and stored by organizations operating in the EU. It also establishes new rights for individuals concerning their data. It also creates enforcement mechanisms to ensure data controllers comply with the GDPR. Organizations that process the personal data of individuals in the EU must adhere to the GDPR unless they can demonstrate that they meet certain conditions. These conditions include that the processing is based on the individual’s consent, is necessary for the performance of a contract between the individual and the organization, or is required by law. Many companies implement GDPR Compliance Consultancy like DataGuard to help them through the complex process.
The GDPR applies to all organizations that process the personal data of individuals in the EU, regardless of where the organization is located. This includes organizations based outside of the EU that offer goods or services to individuals in the EU or that monitor the behavior of individuals in the EU. The GDPR imposes significant fines for organizations that violate its provisions, including up to 4 percent of a company’s global annual revenue or €20 million (whichever is greater), whichever is greater. Organizations that process the personal data of individuals in the EU must comply with several requirements, which include:
- Obtaining the individual’s explicit consent before collecting, processing, or storing their data
- Destroying or erasing the personal data if it is no longer needed for the purposes for which it was collected
- Ensuring that individuals have the right to access their data
- Ensuring that individuals are notified of a data breach within 72 hours of becoming aware of it
- Employing a Data Protection Officer (DPO)
What steps should businesses take to prepare for GDPR?
All businesses that process the personal data of individuals in the EU must comply with the GDPR, including companies that are based outside of the EU but process the personal data of individuals in the EU. The GDPR also applies to any business, including small businesses and startups. Businesses can take many crucial steps to prepare for the GDPR. The initial step involves familiarizing yourself with the GDPR. The GDPR is a complex regulation, and it’s important to understand the basics of what it requires. The GDPR website provides several resources, including a guide for businesses, a glossary of terms, and fact sheets on the fundamental rights of individuals. Starting with familiarization will make implementing GDPR strategies much more accessible.
Next, you’ll need to review your data processing activities. The GDPR requires businesses to identify the specific purposes for which they process personal data, so be sure to document these purposes and check that they are lawful and meet the requirements of the GDPR. You’ll also need to review your data retention and data security practices. The GDPR requires businesses to only retain personal data for as long as is necessary for the purpose for which it was collected and take steps to protect the personal data they process. You need to review your data security practices and ensure that they meet the GDPR requirements.
Once you understand the status of your data privacy, it’s time to revise your privacy policies and terms of service to ensure that they meet the GDPR requirements. The GDPR requires businesses to provide individuals with clear and concise information about their rights under the GDPR and to obtain their consent before collecting their data. Also, your business needs to be prepared to handle data requests in accordance with the GDPR. The GDPR gives individuals the right to access their data, request rectification of inaccurate data, request the erasure of their data, and exercise their right to data portability.
The GDPR also requires businesses to train their staff to comply with the GDPR. Staff should be aware of the critical rights of individuals under the GDPR and the steps the business takes to comply with the GDPR. Alongside this task, try to implement a data breach response plan as soon as possible. Staff should know the steps to take during a data breach and the relevant contact information.
It’s crucial to track your progress when complying with GDPR and to ensure that your business is ready for all facets of GDPR compliance. With these tips, your business will be prepared for anything related to GDPR, including data breaches and requests.