GDPR, General Data Protection Regulation, the most highlighted and talked about news, has come into existence after the joint efforts of four years of the European Parliament, the Council of the European Union and the European Commission, for all the citizens of the European Union. This was surely the much needed legislation of the era and has replaced the Data Protection Directive on 14 April 2016. GDPR will be enforced strictly as the European Law exactly two years later in May 2018; the organizations running business within the European Union and the member states, if do not abide by these data privacy laws, will be heavily penalized with either 4% of the yearly global turnover of revenue or will be charged 20 million pounds.
Companies of Europe are warned not to take this as lightly as the Data Protection Directive, they will have to strictly adhere with it from day one of the GDPR implementation. The objective of establishing General Data Protection Regulation is to uniformly apply data privacy laws throughout Europe and protect every individual’s data privacy who resides in Europe. This practice will strengthen the protection of the private data, which is the right of every individual. Unfortunately, the former Data Protection Directive is found deficient of providing the needed privacy protection that every particular individual and organizations need.
Many businesses in this fast paced social media world have to be reminded the value of personal data. It has become a commonly observed practice for some years now that once you visit a business or a franchise, even a highly reputed one, and share your contact details with them for future updates of their offers, the next day your smartphones and E-mail inboxes are exploded with offers and updates of several other shopping facilities and you keep on wondering how they got your contact number or email address. You are often unsubscribing from their mails or throwing them into spam mails. GDPR will surely serve as a game changer and bring an immense transformation to this viral business trend.
However, businesses do not seem to welcome the General Data Protection Regulation with an open heart. Most of them do not seem to or seem negligent to understand the principles of this legislation, some are even confused about how much compliant they are at present with the upcoming GDPR for the data privacy protection of their customers.