Since the introduction of GDPR compliance in May 2018, businesses are having to consider far more carefully how they target their advertising and express promotion information.
This not only applies to businesses in EU countries who are now required by law to be compliant – across the globe the effects are also being felt. Companies in the US will now have to ensure they are GDPR compliant when targeting EU customers. In the meantime, other countries are also looking to the EU as a leader in this monumental change to evaluate how they too could also implement this type of infrastructure in order to operate a more successful GDPR compliance strategy within their own country.
By replacing the Data Protection Act 1998 and the Privacy and Electronic Communications Regulations 2003, the new 2016 GDPR compliance regulation covers so much more than the previous legislation, which was previously devised in the early days of the internet prior to the likes of Facebook and the use of smartphones and app technology, when the technology was nowhere near as advanced as it is now.
So who is effected by GDPR compliance?
The law has been put in place to regulate the likes of Facebook and other social media companies, who in the past have used our data unscrupulously. By scraping personal information from users’ accounts through cookies and technical algorithms and selling it on to the other companies, these organisations have used our personal information to target us.
Whilst the GDPR compliance law applies to everyone, it is the larger corporates that this legislation is aimed at. Unfortunately, these companies seem to think they are above the law and will do everything they can to find a loop hole so that they may continue with their unethical ways of personal data collection and in doing so it is certain that small businesses could accordingly suffer as a result.
It is the small businesses that prior to GDPR enforcement, would have most likely used their data ethically. SMEs are often reliant on making new contacts and building their own databases in a respectful manner (without constantly targeting / hounding prospects); however, small businesses will no longer have this privilege.
Regulating these larger CEO companies will be the biggest challenge for government and for the future sustainability of GDPR compliance.
Does your business store data and use personal customer information for processes within its daily activity? It is essential that your company handles this information respectfully and within GDPR compliance. To find out more about your duty as an organisation and to prevent a penalty fine, please contact our GDPR compliance insurance team to find out we can support your business with GDPR Insurance.
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