General Data Protection Regulation (GDPR)
What is the GDPR?
The General Data Protection Regulation (GDPR) is an EU regulation that expands the protection of personal data of EU citizens. In doing so, it also expands the obligations of organizations who collect or process that data. The goals of the GDPR are to increase transparency and fairness in the handling of individuals’ personal information. Personal data is any information relating to an identifiable individual.
Enforcement of the GDPR starts on May 25, 2018. The Regulation can be viewed here. All organizations need to be aware of their responsibilities and ensure that they are compliant with GDPR by May 25, 2018. Non-compliance can result in hefty fines.
What does the GDPR regulate?
The GDPR regulates the “processing” of data for EU individuals, which includes collection, storage, transfer, or use. Any organization that processes personal data of EU individuals is within the scope of the law, regardless of whether the organization has a physical presence in the EU. Importantly, under the GDPR, the concept of “personal data” is very broad and covers any information relating to an identified or identifiable individual (also called a “data subject”).
How does GDPR change privacy law?
The key changes are the following: Expanded data privacy rights for EU individuals, data breach notification and added security requirements for organizations, as well as customer profiling and monitoring requirements. GDPR also includes binding Corporate Rules for organizations to legalize transfers of personal data outside the EU, and a 4% global revenue fine for organizations that fail to adhere to the GDPR compliance obligations. Overall the GDPR provides a central point of enforcement by requiring companies to work with a lead supervisory authority for cross-border data protection issues.