Data protection has become a huge concern in recent years, and now more than ever, customers are worried about how their data is being used and by whom.
This is where the new General Data Protection Regulation comes in, introduced in the hope that this new level of transparency will lead to customers putting more trust into organisations and having the confidence to share more of their data.
Although many businesses will find initial compliance with the GDPR technically challenging the new regulations are beneficial to both consumers and businesses in the long run.
How will the new regulation benefit customers?
The purpose of the GDPR is for customers to ultimately become more confident in the knowledge that their data is being stored safely and in line with legal standards. For example: the GDPR outlines that data is to be deleted if: it was unlawfully obtained; an individual no longer wants their data to be retained, providing there are no legitimate reasons for keeping it. This will be known as ‘right to be forgotten’.
With cybercrime GDPR requires data processors and collectors to be more vigilant about safeguarding personal data against loss, theft and unauthorized access. Another benefit to note is the ‘new mandatory data breach notification rule’. This means that if a breach occurs, it must be reported to its supervisory authority within 72 hours. And if it is likely to pose a high privacy risk for individuals, they must also be informed.
Another essential element is ‘data protection by design and by default’, meaning that safeguards will be built into most products and services, and privacy-friendly default settings will be soon be the norm. Now, companies will have to supply consent forms that are plainly worded and transparent. This means that you must explicitly agree before you are subscribed to anything.
Under the GDPR, customers will also have the ‘right to rectify mistakes’. This means they will be entitled to have their personal information corrected if it’s inaccurate or incomplete. This could be vital if, for example, a financial institution input the wrong information concerning your credit history.
Here at legalmatters we are already preparing for GDPR. Your data, including your Will and associated documents, will always be held securely. We’re also inviting clients and interested parties to subscribe to legalchatters, our news, views and update service direct to your mailbox. Or Follow us on FaceBook.
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