GDPR Compliance: How to know if your company and customer data is protected
Primarily, almost every service we use today makes use of stored data. It only takes a moment to recognize the many places we share personal information every day, such as setting up social or government accounts, or when making a purchase at any retailer. In almost every situation in which personal information is disclosed, the information is stored on a server, housed somewhere, somehow, by an organization. As our world becomes more digital, it is essential for companies to have utmost trust in how their data - as well as their customer’s data - is being stored.
In an effort to better equip our digital age with the proper resources for ensuring personal data is kept in its owners’ hands, the European Commission introduced a new privacy regulation called General Data Protection Regulation (GDPR). And it does not only affect vendors in the EU, it affects companies all over the globe. Businesses who are centered around processing personal data are required to comply by these new laws in order to serve EU companies, citizens and residents. Thus, GDPR is a vital implementation for all organizations worldwide who store data owned by citizens or residents within the European Union.
Under the terms of GDPR, organizations need to ensure that any personal data collected is being legally gathered under very specific conditions, and that it will be protected from exploitation respecting the rights of data owners, or else the collecting organization can face penalties. Ultimately, GDPR aims to enable EU citizens to have more control over data that is rightfully theirs in the first place.
If you are a LeadManaging user, you can cross us off your list of suppliers when assessing for GDPR compliance - HOORAY! We have implemented new procedures and rules this year to ensure we are meeting the privacy protection standards.
Take a look at the “5 W’s for GDPR Compliance” for a simplified understanding of what any current or future supplier of EU residents should know regarding their data protection.
Why is GDPR important?
The concern for privacy is growing globally as we rely more on digital automation and web-based platforms for storing data. A study by the RSA Data Privacy Security report found that 80 percent of people rated lost banking and financial information as one of their primary concerns.
Who, within my company, will be in charge of ensuring we remain compliant?
The GDPR designates three roles to ensure compliance: the data controller, who defines process purposes; the data processor, who maintains personal records; and the data protection officer, who oversees the security strategy.
When must my company be GDPR compliant by?
The date that GDPR compliance came into effect was May 25th, 2018. So, now!
Where exactly will our company’s data be stored?
It is important to know where your data is being housed. If it is not being housed locally, this should be disclosed by the company. All data must be securely encrypted, complete with manager codes and audit logins.
What types of privacy does GDPR protect?
Basic identity information, location, IP address, cookie data, and RFID tags, health and genetic data, biometric data, racial or ethnic data, political opinions, and sexual orientation are all included in the data protected by the regulation.
The security of customer's data is not something to take lightly, and it's not too late for companies to get started. With data protection and privacy being a global topic of concern, GDPR compliance is a way for companies to stand out and maintain a higher level of trust.