The General Data Protection Regulation, or GDPR, is a set of laws that took effect in the European Union in May 2018. Its main goal is to protect the personal data of EU residents and give them more control over it. The GDPR requires companies to obtain explicit consent for the collection and processing of personal data, and to inform individuals of their rights. This includes the right to access their personal data, the right to have it corrected, the right to have it deleted, and the right to data portability.
It also has implications for marketers, as it requires them to obtain explicit consent from individuals before collecting and processing their personal data. This means that companies must make sure that their opt-in forms and consent mechanisms are clear, specific and easy for individuals to understand and use. Additionally, marketers must also be transparent about how they collect and use personal data, and provide an easy way for individuals to access, correct or delete their personal data.
In case of data breaches, companies must report it to the authorities and the affected individuals within 72 hours. The GDPR has wide-reaching implications for companies operating within the EU, and it is considered to be one of the most comprehensive data protection laws in the world. Companies found in violation of the GDPR can face heavy fines, up to 4% of their annual global revenue or €20 million, whichever is higher. It is a set of rules that companies must abide by, to ensure the privacy and security of EU residents personal data, and that also applies to marketers.