The General Data Protection Regulation, or GDPR, was brought in by the European Union in 2018. The intention was to update data protection laws across all member states and ensure that companies would become compliant in their handling of data. A lot of businesses, however, still see GDPR as a nuisance. In fact, it acts to protect customers and businesses alike. Here, we discuss exactly how that is the case.
Security of data
Under GDPR, the data of individuals became much better defined. Anything identifiable to an individual is their personal data, and under GDPR users have the right to know who is in possession of their data and which organisations are using it. Customers have to agree to actions being taken with their data, so they have a far greater level of control over what companies are doing with their personal information. If they don’t like what a company is doing, they can simply withdraw their consent and request that a company deletes the data. This not only protects the customer but also benefits the business in that it ensures individuals can have a greater feeling of comfort that their data is being used legitimately.
Transparency of data
Customers are also given the right to be informed of what the purpose their data is being used for, exactly what data is collected, and if there have been any data security breaches. These wide-ranging reforms, designed to allow for a much greater level of transparency, ensure that customers are not only more secure but are also more aware of what exactly their data entails. When individuals are allowed to download all of the data that international companies hold about them, they have a better idea of what their data actually is, and can get a better idea of what sort of access they want to let companies have. Customers, therefore, are more likely to be trusting of what exactly a company does, since data is no longer an abstract concept but something more tangible. Two-thirds of Europeans have now heard of GDPR, demonstrating the reach of the regulation and its impact in boosting awareness. Compliant companies are therefore likely to benefit from the implementation of GDPR.
With the implementation of GDPR across Europe, companies are now considering data to be an intrinsic part of cyber essentials. Data handling is key to modern business operations, and to ensure that your company is completely compliant, you may need expert help. CyberSmart can help make a complicated bit of regulation, much simpler with our Privacy toolbox, click here to find out more.