In Europe, the government enforces the General Data Protection Regulation starting in May 2018. All companies conducting business with European citizens must be compliant with the new law by the deadline. The regulation pertains to how personal data is used, stored, and processed. A local vendor offers a solution for the companies that is compliant with the new regulation.
How Maintains Compliance at Local Companies?
Companies rely on a data controller to maintain compliance with standards. The data protection officer and processor also play a role in assessing data usage and storage. The law enables the government to penalizes each of the key workers in any organization.
What are the Maximum Fines for Non-Compliance?
According to the regulations, the maximum penalty for non-compliance is $20 million. The fine equates to four percent of the company’s annual profits. The earnings include all profits generated in Europe and abroad.
Can the European Government Impose Fines in the U.S.?
Yes, any company that accepts purchases from European citizens face fines. All companies that wish to sell products in Europe must follow all provisions outlined in the laws. The European government imposes fines as soon as non-compliance is discovered.
What is Considered Private Data Under the Regulation?
Private data begins with the name and contact information for the consumer. It includes any information on their driver’s license, passports, or other IDs. Their web presence such as RFID tags, IP address, and cached data linking to the consumer fall under the law. All biometric and racial information, as well as the consumer’s political affiliation and sexual orientation, is protected data.
Consumer Consent and Storage Duration
The law prohibits the storage of any consumer-based information without consent. The consumer must provide consent before their information is stored at any time. Additionally, the law prevents the companies from storing the data for an extended period of time. The data must be erased after the transaction is completed.
In Europe, the federal government has created the General Data Protection Regulation to protect European citizens. The regulation is designed to lower instances of identity theft. It protects consumers against financial losses produced by hackers. Companies that need more information about becoming GDPR compliance contact technology vendors now.