What is GDPR & what does it mean for your business?
What is GDPR?
If you find yourself wondering what is GDPR, Investopedia sums it up as “the General Data Protection Regulation (GDPR) is a legal framework that sets guidelines for the collection and processing of personal information of individuals within the European Union (EU).”
Data – a small word with a big meaning. It holds all the information to your life and legislation is there to protect those details from being used inappropriately. Data protection legislation is changing on 25 May 2018 and it will impact how that data is used for marketing purposes.
It may feel like a long time until
So what is GDPR? Put simply, data protection regulation is changing because the world is changing too. Current legislation has not kept pace with the digital landscape. It’s the biggest overhaul of data protection legislation for over 25 years and it will push data protection to the forefront of people’s minds.
What do I need to do?
You may think that you’re not collecting data about anyone, such as their name, address or date of birth. But data goes much further than that online. If you have tracking tools on your website – like our old friend Google Analytics – then you are.
Our online browsers and potential customers are a savvy bunch. If you collect information on your website, even on a simple contact form, you need an SSL certificate which encrypts that data. Giving your website a little padlock in the browser bar and its visitors the confidence that their details are in safe hands.
Do not let yours be a risky business
It’s not worth taking a gamble on GDPR as your company could face hefty fines. This could be as high as 420m (£17.2m) or 4% of a company’s total worldwide annual turnover – whichever is higher. Current laws covering data protection can impose a fine of no more than £500,000. This is a massive increase and reflects how serious this law will be taken.
It goes without saying that this law has huge implications for most – if not all – organisations and businesses. Keep an eye out for our future blogs which will drill down on what GDPR means for you, how to prepare for next May and our examples of best practice.
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