The GDPR gives individuals certain rights when it comes to their data. The organization that collects the data must inform them what data they are collecting, why it is being collected, and how it is being used. Individuals have the right to access their data, request corrections to incorrect data, and request their data be deleted. Organizations must comply with these rules when handling the data of EU citizens, regardless of where they are located. The GDPR also requires organizations to be transparent about their data practices so individuals can make informed decisions about whether to share their data.
Penalties for non-compliance
Like any robust law, the GDPR compliance also comes with hefty fines for non-compliance. First, organizations must inform and obtain consent from EU citizens to collect their data. Afterward, organizations must document how they are using the data, who they are sharing the data with, and how long they will be kept. The GDPR does not mandate how companies store data, but it does require companies to use encryption for data in transit and when it’s at rest. If an organization fails to comply with GDPR standards, the EU can issue fines of up to 4% of annual global revenue or €20 million (whichever is greater).
To ensure they are compliant with the GDPR, organizations must identify personal data, document how they handle that data, and update security protocols for access to that data. Businesses also must inform individuals what data they collect and why, as well as allow individuals to access and correct that data. Organizations that fail to comply with GDPR standards face hefty fines. Therefore, it’s essential for businesses to be prepared with a plan to meet the GDPR’s requirements.