General Data Protection Regulation is a security regulation that detects businesses to protect their business data and provide privacy to the EU citizens for all the transactions that happen with the EU states. All the EU companies have to follow the regulation and any non-compliance could cost the company financially as well as legally. This regulation is strictly for all those companies which collect data from the citizens of European Union countries and the deadline to comply with GDPR regulation is 25th May 2018. What this means is that the companies have to modify their security measurement and cover all the items that are linked to data collection and not just data storage.
Privacy Provided By The New Regulation –
According to the previous data protection regulation, only basic identity information such as name, address, ID numbers and likewise was to be protected by the company so that no third-party agency can get them by any chance. But due to the modernization of the technology, protecting the basic identity information is not enough as various companies are collecting data illegally through various web processes. That is why according to General Data Protection Regulation, the companies must protection web data such as location, IP address, cookie data and others tags of their customers. Along with that, health and generic data, biometric data, racial data, political opinion, and other personal data must also be protected.
Which Companies Need to Comply –
All the companies in the European Union countries that collect, process, and store data of EU citizens have to comply with the new regulation. There are various companies available that are providing complete GDPR data protection solutions like Data Vault and EU companies are availing them at the earliest as the deadline for the compliance is fast approaching. Most of the EU companies are seeing this compliance mandatory measure as an opportunity to tight the security of their products and services so that they can provide better and secure services to their customers going forward.
Even those companies that are situated outside of EU countries but have clients who are European residents, they have to implement the new security measure to ensure ultimate safety. The data controller, data processor, and data protection officer will be held responsible if the compliance is not done within the deadline. The data controller is the organization owning the data, data processor and protector is generally a third-party company managing the data. If the third-party company is not in compliance, then the data controller will be considered not in compliance.