The General Data Protection Regulation (GDPR) is a set of regulations that member states of the European Union must implement to protect digital data privacy. The regulation applies to any company that processes or intends to process the data of individuals within the EU. Regardless of whether the company is based inside or outside the EU.
This includes companies that resell B2B data. If you are a B2B data reseller, you must make sure that you are following business GDPR guidelines. This blog post will discuss what you need to do to make sure that your business is compliant with GDPR.
What is GDPR and why do you need to comply with it
General Data Protection Regulation (GDPR) is a set of regulations that member states of the European Union must implement to protect digital data privacy. The regulation is also known as the EU Data Protection Regulation, Reg. No. 765/2016. It was adopted on April 14, 2016, and came into force on May 25, 2018. GDPR replaces the 1995 Data Protection Directive (95/46/EC).
GDPR sets out strict rules about how personal data must be collected, used, and protected. Giving individuals the right to know what personal data collected about them, have that data erased, and the right to object to its use. GDPR applies to any company that processes or intends to process the data of individuals in the EU. Regardless of whether those individuals are citizens or residents of the EU.
Companies that process the data of EU citizens must comply with GDPR unless they can demonstrate they meet one of the exceptions set out in the regulation. To comply with GDPR, companies must appoint a Data Protection Officer (DPO), implement risk management processes, and establish policies and procedures for managing personal data. You must also ensure that your employees receive training on these policies and procedures.
GDPR imposes significant fines for companies that violate its provisions, including up to €20 million (about $22.87 million) or up to four per cent of a company’s global annual revenue, whichever is greater.
You need to comply with GDPR if you are a B2B data reseller
As a UK B2B data provider, you need to comply with GDPR if you process the data of EU citizens. This includes ensuring that you have appointed a DPO. Implementing risk management processes and establishing policies and procedures for managing personal data. You must also provide employees with training on these policies and procedures.
Failure to comply with GDPR can result in significant fines, including up to €20 million. (about $22.87 million) or up to four per cent of a company’s global annual revenue, whichever is greater.
To avoid these fines, you should ensure that your business is compliant with GDPR and data protection.
