8/15/2023 0 Comments General real estate mailings![]() ![]() The EU’s new approach to online privacy puts individuals first, believing they should be protected and empowered, rather than exploited or ignored. GDPR is the most far-reaching change to data protection in a generation and is a dramatic shift in the way the EU wants personal data to be managed. So, it’s fair to say that the EU is taking this extremely seriously. Marriott International are expected to be fined in the region of €99 million for a data breach between 20.British Airways are facing fines of up to €200 million for a data breach that occurred in September 2018.Here's a few recent examples of how high these GDPR fines can be: In fact, failing to comply could lead to fines of up to €20 million or 4% of your global turnover! Companies also need to regularly conduct privacy impact assessments, strengthen the way they seek permission to use the data, document the ways they use personal data and improve the way they communicate data breaches.Īnd, because it’s a regulation and not a directive, it is legally binding - meaning it cannot be opted out of, or ignored. ![]() Put simply, this means that companies are now required to build in privacy settings into their digital products and websites – and have them switched on by default. In Switzerland, the new FADP goes into effect in Septemeber 2023. It standardizes a wide range of different privacy legislation's across the EU into one central set of regulations that will protect users in all member states. ![]() The General Data Protection Regulation (GDPR) is the digital privacy regulation that was introduced on the 25 th May, 2018. It was clear that something was needed to be done to regulate the management of personal data, to protect consumer interests and police the companies that collect, store and use the data, which is why in 2018, the European Union introduced GDPR – a new set of laws designed to safeguard personal data and inform the decisions of marketers in all member states. The people that use customer data the most don’t fully understand how they should use it. It’s even more concerning when it comes to GDPR for marketing as 41% of marketers admit to not fully understanding both the law and best practice around the use of consumer’s personal data. While, according to a report published by the Chartered Institute of Marketing, 57% of consumers don’t trust brands to use their data responsibly.Īnother concern is that Symantec’s State of European Privacy Report found that 90% of businesses believe it’s too difficult to delete customer data and that 60% (!) do not have the systems in place to help them do so.Ĭlearly, there’s significant disconnect between consumers, their personal data and how the companies that collect it, use it. Essentially, consumers are not convinced that companies are doing enough to protect them.Ī Consumer Privacy study by TRUSTe/NCSA found that 92% of online customers cite data security and privacy as a concern. However, because personal data is so valuable, it’s vulnerable to theft or misuse and this has led to consumers demanding to know how companies use and store their personal data. In fact, digital footprints have become so valuable that The Economist called personal data “the world’s most valuable resource’ ahead of oil, because of how much it now informs the way companies communicate with their customers and how it positively impacts customer experience. The websites you use, the calls you make, the places you visit and even the photos you take are all recorded, measured and leave a digital footprint - a footprint that is fast becoming a prized resource. In today’s connected world, personal data is being collected at an incredible rate. To comply with GDPR, we share a marketing checklist that we have used, which includes 9 practical tips to help you get closer to meeting those EU requirements.Learn from their mistakes before you schedule your next marketing campaign. ![]() In fact, 3 household brands have already been fined. Failure to comply with GDPR can lead to hefty fines.GDPR has changed the way that companies communicate with prospects and customers, but what is GDPR and why introduce the new privacy law now?. ![]()
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