Data breaches and cyber attacks are becoming increasingly common in today’s digital world, & the consequences can be severe. When a company’s data is breached, it can lead to personal information being compromised. This is where GDPR was introduced. In this blog, we will discuss what are GDPR rights & regulations for individuals & organizations, its benefits, and penalties for noncompliance.
What Is GDPR?
GDPR stands for General Data Protection Regulation. It is a data privacy law that came into effect in the European Union in May 2018. It aims to protect the personal data of EU citizens by regulating how companies collect, store, & process their information. The law applies to any organization that handles the personal data of EU citizens, regardless of where the organization is based. Non-compliance can result in significant fines.
What Are The GDPR Regulations?
General Data Protection Regulations (GDPR) include:
- Right to be informed: This means that individuals have the right to be informed about the collection, use, & processing of their data. Organizations must provide transparent & clear information about their data processing activities.
- Right of access: Individuals have the right to request access to the personal data that an organization holds. The organization must provide a copy of the data free of charge & within one month of the request.
- Right to rectification & erasure: Individuals have the right to request that an organization rectify any inaccurate or incomplete personal data. They also have the right to request the erasure of their personal data in certain circumstances.
- Right to restrict processing & object to processing: Individuals have the right to restrict the processing of their data or object to its processing. This can be in certain circumstances, such as when the data process is unlawful, or when the individual believes that their data processes unfairly or unnecessarily.
- Right to data portability: Individuals have the right to obtain a copy of their data in a commonly used electronic format & have it transferred to another organization.
- Right to object to automated decision-making: Individuals have the right to object to automated decision-making that is based solely on their data, including profiling.
- Consent: Organizations must obtain consent from individuals to process their personal data. This consent must be freely given, specific, informed, & unambiguous.
- Lawful, fair, & transparent processing: Organizations must process personal data in a lawful, fair, and transparent manner. They must also have a valid legal basis for processing personal data.
- Security measures: Organizations must implement appropriate technical & organizational measures to protect personal data from unauthorized access, disclosure, alteration, or destruction.
- Data breach notification: Organizations must report data breaches to the relevant authorities within 72 hours of becoming aware of the breach. They must also notify affected individuals if the breach poses a high risk to their rights & freedoms.
- Data Protection Officer (DPO): Organizations may appoint a Data Protection Officer (DPO) to oversee data protection activities.
- Data Protection Impact Assessments (DPIAs): Organizations must conduct DPIAs to identify & mitigate privacy risks associated with their data processing activities. A DPIA is a process that assesses the impact that the processing of personal data is likely to have on individuals’ privacy rights.
Benefits Of Following GDPR Regulations
There are several benefits of following the General Data Protection Regulations (GDPR):
- Increased customer trust: Following GDPR can help organizations build trust with their customers by demonstrating that they take data protection seriously. This can lead to increased customer loyalty & better relationships.
- Improved data security: GDPR requires organizations to implement appropriate security measures to protect personal data. This can help organizations improve their data security practices & prevent data breaches.
- Compliance with the law: Organizations that process the personal data of EU citizens have to comply with GDPR. Following GDPR can help organizations avoid fines & other penalties for non-compliance.
- Competitive advantage: Organizations that comply with GDPR can use this as a competitive advantage over their competitors. Customers may prefer to do business with organizations that prioritize data protection.
- Enhanced accountability: GDPR requires organizations to be accountable for their data processing activities. This means that they must be able to demonstrate compliance with GDPR requirements. This can help organizations improve their internal processes & accountability.
- Better data management: GDPR requires organizations to have a clear understanding of the personal data they process & why they process it. Moreover, this can help organizations improve their data management practices & make better use of the data they collect.
Overall, following GDPR can help organizations improve their data protection practices, build customer trust, and comply with the law.
Penalties For Breaching GDPR Regulations
The penalties for breaching GDPR can be significant. Here are some of the potential consequences:
- Fines: The GDPR allows supervisory authorities to impose fines of up to 4% of an organization’s global annual revenue or €20 million (whichever is greater) for serious infringements, such as failure to obtain proper consent or failure to notify authorities of a data breach.
- Lawsuits: Individuals whose data has been mishandled may be able to bring legal claims against organizations for damages.
- Reputational Damage: A data breach or other GDPR violation can cause significant reputational damage to an organization, leading to the loss of customers, business partners, & investors.
- Business Disruption: GDPR violations can lead to business disruption, such as suspension of data processing activities or loss of access to data.
- Regulatory Action: Supervisory authorities may take a range of regulatory action against organizations that breach GDPR, including ordering them to take corrective action, conducting audits, & even temporarily suspending data processing activities.
In conclusion, GDPR Regulations protect individuals’ privacy rights by requiring organizations to obtain explicit consent for data processing, provide access to personal data, & implement appropriate security measures. Failure to comply with GDPR can result in significant fines, lawsuits, & reputational damage. To ensure compliance, organizations should conduct a data audit, obtain consent, implement security measures, train staff, and appoint a Data Protection Officer.
If you are looking to implement any of the Infosec compliance frameworks such as SOC 2 compliance, HIPAA, ISO 27001, and GDPR compliance, Impanix can help. Book a Free consultation call with our experts or email us at [email protected] for inquiries.