What is GDPR?
GDPR (General Data Protection Regulation) is a regulation of the European Union (EU) that provides a set of standards for the protection of personal data of individuals within the EU. It was adopted in April 2016 and took effect in May 2018.
What Does GDPR Do?
GDPR provides a unified set of rules that establish how personal data must be collected, stored, used, and shared. It also ensures that individuals have control over how their personal data is used and that their data is protected. The GDPR applies to companies that collect, store, and process personal data of EU citizens, regardless of whether the company is based in the EU or not.
Key Requirements
The GDPR contains a number of key requirements for companies to follow when handling personal data:
- Companies must obtain explicit consent from individuals before collecting, storing, and processing their personal data.
- Companies must provide individuals with clear information about how their data is being used.
- Companies must be able to demonstrate that they are meeting their GDPR obligations.
- Companies must have appropriate technical and organizational measures in place to protect personal data.
- Companies must report personal data breaches to the relevant authorities within 72 hours.
- Companies must provide individuals with access to their personal data and allow them to request that their data is deleted or rectified.
Penalties
Companies that do not comply with the GDPR can face significant penalties. Penalties can include fines of up to 20 million euros or 4% of the company’s global annual turnover, whichever is higher.
Conclusion
The GDPR is an important regulation that provides individuals with rights over their personal data and sets out obligations for companies to protect data. It is important for companies to understand their obligations under the GDPR and take appropriate measures to ensure compliance. References: General Data Protection Regulation Data Protection European Union