Majority of CEOs may severely underestimate the consequences of GDPR non-compliance, and more worrisome are unaware of what had to be done or had been done by their staff to implement compliance measures.
Data Protection
Certain types of personal data are very valuable to criminals, and can be very damaging to an individual or business if it falls into the wrong hands. As the world becomes more digital and more connected, more of this sort of data is generated and passed between various sources on a regular basis.
Government regulations and supervisory authorities aren’t just about keeping irresponsible parties in line. They also provide vital security guidance to every type of organization that handles sensitive personal, business or government information.
Data protection regulations also ensure that the end user has a transparent view of and a say in the processing of personal data. These safeguards play a significant role in everything from the preservation of civil rights to ensuring that democratic institutions function properly.
Some types of personal data are clear candidates for regulation: medical records, banking information, national ID numbers and so on. But some of these regulations also cover items that might seem relatively innocuous at first glance: home addresses, email addresses, website profile information and so on. For example, the European Union General Data Protection Regulation (GDPR) has stipulations about anything that is unique to an individual to include phone numbers and social media accounts. People have varying levels of privacy preference with these items, but they are often protected by regulation because they can be used for targeted scams and attempts at identity theft.
Given that regulations often take the size and customer count of businesses into consideration in terms of penalties and the scope of protection of personal data, compliance is particularly important for enterprise-scale organizations. You do not necessarily have to have an active business presence in a country or region; simply storing data on or moving it through servers there may subject you to their data protection rules.
117 GDPR omnibus laws, 28 CCPA sectoral laws and more amendments coming up for the CCPA and LGDP, how do you keep your privacy program afloat?
While the practical interpretation and implementation of the GDPR has been heavily discussed, it is sometimes overlooked that the GDPR itself offers solutions to handle the legal uncertainty: Codes of Conduct and Certifications.
GDPR has changed the global business landscape in three important ways since its implementation but has also fallen short in some areas from original intention.
The size of today's GDPR penalties has set the level against which all future data breach fines will be judged as global data breaches are pursued by multiple regulatory authorities and private citizens alike.
A German court has slashed a GDPR fine assessed to one of the country's largest telecommunications service providers by over 90%, calling it "unreasonably high."
Germany's data protection commissioner tells German government organizations to shut down their official Facebook Pages by January 2022 or face potential enforcement action.
Germany set a new precedent with an antitrust ruling against Facebook, forcing the company to make major changes to their data collection practices – German users are to be given a greater degree of notice and choice in how their data is used.
CCPA enforcement is set to get underway in July, understanding your company’s obligations under the law and using the right technology can help you achieve regulatory compliance.
According to a new survey conducted by the IAPP and EY, Global 500 companies will spend a combined $7.8 billion over the next year on GDPR compliance. Those escalating compliance costs will mostly result from new hiring, as corporations race to catch up with changes to privacy laws.










