Essentials of GDPR Compliance and Data Privacy Management : A Concise Guide
Author Praveen Vasudevan
Data privacy is a globally discussed matter as individuals and companies are concerned about their data, how and where it is used and whether it stays within the rightful boundaries without getting breached. Customer data privacy is of paramount importance because companies need to have control over their personal/firm’ information and should know how others use it.
The General Data Protection Regulation (GDPR) is a powerful data privacy law in the European Union that involves any organization that processes the personal data of EU nationals/residents, regardless of where the company is located. That would mean, if you are a company outside of the EU, you need to comply with the Data Protection concerning your operations.
Regarding the aforementioned, there are two key aspects for non-EU companies to consider that form the basis of compliance:
- Goods or services provider: Whether you offer goods or services, paid or unpaid to companies or residents in the EU, regardless of your location you fall into the scope of GDPR. This applies to data collected for even free online courses, ads or similar online services.
- Monitoring of customer behaviour/patterns: If you monitor through cookies or behaviour analytics of residents in the EU, you again fall within the scope of GDPR. This includes activities to monitor that are conducted with the help of cookies or analytics.
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Implications on Non-compliance: If you fail to comply with GDPR, the consequences could be that it could affect your company's goodwill significantly as well as invite legal actions as per the nature of the violation/non-compliance. Constantly being in touch with a legal counsel helps in near real-time updates from regulatory bodies, and amending your ways to comply accordingly with the latest directives.
To achieve compliance, the following points may serve as a general guideline:
- Legal basis: Firms need to arrive at a lawful basis for processing personal data, such as consent, legal.......