The EU’s General Data Security Regulation (GDPR) is set to go in to effect on May 25. It will significantly change current data privacy laws and regulations throughout Europe, strengthening the defense of personal data.
When they want to avoid hefty penalties, businesses that conduct business in the EU— or even process personal data received from the EU— need to ensure their company practices adhere to the new law’s rigorous guidelines.
However , based on a recent report by Forrester Research, only about one-third of worldwide companies say they are prepared regarding GDPR. Many have not yet finished the required work, which includes a data breakthrough process, data classification, data stream maps, and impact assessments— but will evolve their operating model towards privacy by design and by arrears.
One of the most important factors intended for companies to consider is GDPR’s extended definition of what is considered personal information. Under the previous regulations, for example , info such as age, race, gender, geographic location, and job title had been protected because they could be used to recognize a specific person.
Nevertheless , the new set of regulations broadens the information deemed personal to include medical info, pseudonymous data, cookie IDs, gadget IFAs, and other unique identifiers, like IP addresses— which is particularly important for ad tech companies that will harness first- and third-party information to help advertisers target viewers upon over-the-top (OTT) or via linked TV devices.
To be clear, businesses can still process personal data, yet GDPR requires action and conformity, which may include collecting users’ permission or explaining their “legitimate interest” in processing that data.
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