What you need to know about GDPR while doing business in Europe?

Consumers can now get more leisure and transparency into how their data is being used. This has become possible with an all new Europe's concept called General Data Protection Regulation or GDPR. It is a regulation that needs businesses to protect the privacy and personal data of European members for the transactions that occur within the EU member states. Here's everything that every company in Europe must know about GDPR. Companies collecting data on citizens of European territory will have to necessarily comply on the new rules. The compliance will affect some new expectations and concerns of the security groups. For instance, GDPR takes a big picture of what resembles as personal identification number. The companies will require the same level of security for things like a person's cookie data or IP address as they do for social security number, address, and name. Let's dig in more to understand GDPR briefly.

What is GDPR?

The European parliament switched to the GDPR in the year April 2016, replacing the outdated and old data protection directive from the year 1995. It carries the provisions that require businesses to protect the privacy and personal data of EU members for the transactions that happen within the EU member states. It even regulates the exportation of the personal data outside EU.

Reason for GDPR'S existence

The simple answer to this is the public concern over privacy. The GDPR replaces the EU's data protection directive, that came into effect in the year 1995. This was way before the Internet became the online business hub as much it is today. Hence, the directive is outdated and does not address the many ways in which the data is collected, stored, and transferred today.

What types of data are protected by GDPR?

  • Sexual orientation
  • Racial or ethnic data
  • Political opinions
  • Racial or ethnic data
  • Web data such as IP address, location, RFID tags, and cookie data.
  • Biometric data
  • Health and genetic data

Which companies are affected by GDPR?

Any organization that processes or stores personal data of the EU members within EU states must comply with the rules of GDPR, even if they do not have a global presence within EU. Specific requirements are as mentioned below: A presence is required in the EU economy More than 250 employees No presence in EU, but it processes personal data of European residents.

What you need to know about GDPR while doing business in Europe?
Dev Bhushan

Dev Bhushan is the founder and CEO of Nettechnocrats. Dev has become a consistent leader with a reputation for tenaciously protecting his clients' interests. He has built a prestigious image in his pursuit of excellence, winning the trust and confidence of customers and industry partners. Connect with him on LinkedIn to know more about his futuristic business ventures.

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