General Data Protection Regulation (GDPR)

Over the last few decades, protecting individuals’ personal data has been challenging across Europe and worldwide. Significant data breaches and data leakages have ended up costing businesses in the form of revenue and customer loss. Such events badly impact customers as their Personally Identifiable Information (PII) gets leaked. Data breaches and PII theft are profitable business models for scammers, and such illicit activities are not showing any signs of slowing down in the future. Thus, the General Data Protection Regulation (GDPR) is enacted to ensure data security and privacy.

What is GDPR?

The GDPR is a European Union (EU) legislation that governs how to use, process, and store an individual’s personal data. The law took effect on May 25, 2018, and it applies to businesses operating within the EU, offering services or goods to the European Union, or monitoring EU citizens. Corporations must fulfill GDPR requirements to avoid hefty fines imposed by the Information Commissioner’s Office (ICO).

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The Key Elements of GDPR

Some of the significant  aspects of GDPR laws include:

• Extended Jurisdiction: The General Data Protection Regulation has expanded its jurisdiction. It now applies to any business processing a customer’s personal information in the EU. This means that the data protection law is not limited to firms based in the EU; it also applies to small and large organizations located outside the EU but handling the data of its citizens.
• Consent: GDPR emphasizes getting clear and explicit consent from individuals before processing their confidential information. Firms must be transparent about collecting, processing, and using personal data and ensure that individuals have a choice in granting or withdrawing their consent.
• Right to Access: Under GDPR policy, data subjects enjoy the right to request access to their personal data, and the organizations are obligated to provide them with the information.
• Right to be Forgotten: GDPR provides data subjects the right to request their personal information erased under certain circumstances.
• Data Protection Officer (DPO): As per the GDPR regulation, all data processors, as well as data controllers, must have a DPO on their team. The DPO is accountable for ensuring adherence to data protection laws.
• Penalties: GDPR introduces more severe penalties for non-compliance with data protection regulations. The ICO and other regulatory bodies enjoy the power of imposing fines of more than €20 million or 4% of the business’s annual turnover globally for severe breaches.

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These provisions under the General Data Protection Regulation aim to strengthen individuals’ control over their personal data and hold organizations accountable for handling and protecting that data, ultimately providing better protection for data subjects’ fundamental rights.