What is the GDPR?
The GDPR is a new comprehensive data protection law (in effect May 25, 2018) in the EU that strengthens the protection of personal data in light of rapid technological developments, increased globalization, and more complex international flows of personal data. It updates and replaces the patchwork of national data protection laws currently in place with a single set of rules, directly enforceable in each EU member state.
Sinefa fully supports the goals of GDPR and is working to further strengthen the privacy principles already included in our products and processes.
What does the GDPR regulate?
The GDPR regulates the “processing” of data for EU individuals, which includes collection, storage, transfer, or use. Any organization that processes personal data of EU individuals is within the scope of the law, regardless of whether the organization has a physical presence in the EU. Importantly, under the GDPR, the concept of “personal data” is very broad and covers any information relating to an identified or identifiable individual (also called a “data subject”).
How does GDPR change privacy law?
The key changes are the following: Expanded data privacy rights for EU individuals, data breach notification and added security requirements for organizations, as well as customer profiling and monitoring requirements. GDPR also includes binding Corporate Rules for organizations to legalize transfers of personal data outside the EU, and a 4% global revenue fine for organizations that fail to adhere to the GDPR compliance obligations. Overall the GDPR provides a central point of enforcement by requiring companies to work with a lead supervisory authority for cross-border data protection issues.
Does the GDPR require EU personal data to stay in the EU?
No, the GDPR does not require EU personal data to stay in the EU, nor does it place any new restrictions on transfers of personal data outside the EU.
More on GDPR here.