The General Data Protection Regulation (EU) 2016/679 (GDPR) is a data protection and privacy regulation for all residents of the European Union (EU) and the European Economic Area (EEA). Since becoming law in May 2018, many Data Protection Authorities are actively investigating or have taken enforcement action, as of March 2021 there have been 564 fines, totaling € 271,007,288.
In June 2018, the California Consumer Privacy Act (CCPA); in January 2020 the California Privacy Rights Act (CPRA); in March 2021, Virginia the Consumer Data Protection Act (CDPA) all have approved and many more privacy acts just in the US are pending approval. These regulations grant consumers individual rights, require greater transparency and data management controls and limitations of use.
In 2021, many companies continue to assessing their privacy programs for compliance, risk and operational functionality. Key activities include data inventories, updates to privacy notices, updating capabilities for managing individual rights, testing incident management procedures, and what to measure and report for compliance levels.
The risk of non-compliance continues to increase with each passing day; therefore the privacy office must work with their business leaders, to communicate the business risks (fines, loss of trust or use of personal data), the effort and cost to improve your compliance position.