What is the GDPR
The GDPR (General Data Protection Regulation) seeks to create a harmonised data protection law framework across the EU and aims to give back to data subjects, control of their personal data, whilst imposing strict rules on those hosting and processing this data, anywhere in the world.
The Impact of GDPR of American Companies Might Be Bigger than You Think
When it comes to overhauling privacy practices and improving cybersecurity, GDPR is becoming a top priority for American companies. In fact, a MediaPro survey found that 54 percent of US companies have made GDPR readiness a top focus for 2018.
But the General Data Protection Regulation, set to be enacted on May 25, remains unfamiliar to many professionals working in these companies. The same survey found broad disparity and misunderstanding regarding the regulatory rules framed by GDPR, including how individuals should respond when they believe GDPR has been violated. Fifty-nine percent of respondents said GDPR was a “completely new” concept to them, while 80 percent of respondents couldn’t say whether the regulations insisted that sensitive-data theft—one of the focal points of this legislation—should be reported at work.
As many American companies may know by now, these European Union regulations will impact any business that uses data from European consumers.
This includes the use of data in targeting consumers for marketing campaigns and gathering information based on their user behavior. Multinational and enterprise organizations likely recognize that their overseas business will inevitably require them to account for GDPR and ensure their marketing practices meet EU regulations. But other businesses may not know the extent to which these regulations affect them.
But if those companies hope to stick their head in the sand and remain blissfully unaware, they’re headed for trouble.