It’s been an eventful year since the General Data Protection Regulation (GDPR) went into effect in May 2018. Since that time, some $63 million in fines have been assessed on more than 64,000 reported breaches. GDPR compliance budgets have risen, but expert surveys suggest that businesses are still not fully prepared.
What is the impact of data privacy regulation?
Any company that does business internationally can be affected by the GDPR. Google was hit with a $57 million fine in France, for example. In the coming year, GDPR enforcement is expected to become more commonplace, with regulators having the power to levy larger fines for more specific violations.
Meanwhile, the California Consumer Privacy Act (CCPA) will go into effect on the first day of 2020. Any company that collects private data about California residents (or has data collected on its behalf) will be required to abide by its statutes.
What will happen in 2020?
While GDPR and CCPA will be important going forward, they are only the beginning. At least 11 U.S. states are in the process of implementing legislation modeled after CCPA – and it’s reasonable to assume more states and countries will follow suit.
Companies can prepare for the next wave of legislation by building upon data privacy best practices from the ground up.
How Impero helps
Impero Connect is fully GDPR compliant, and our remote access software is built to follow data privacy best practices. Of course, the resources here can’t guarantee compliance for your business – but implementing the best practices outlined here will set you up for success.
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