GDPR or RGPD are the abbreviations that everybody talks about lately, in fact, every time you turn around someone is talking about it. But what exactly is it and why is it so important for everyone?
GDPR, by its abbreviations in English (General Data Protection Regulation), or RGPD by its abbreviations in Spanish (General Regulation of Protection of Data) is the new norm that regulates the protection of the data of the citizens who live in the EU.
Where we are and where are we going
The current Data Protection Directive (DPD) was adopted in 1995. Much has rained since then so it does not cover most of the technological changes we have now. For this reason, in January 1992, the European Commission decided that it was time to push forward a reform on data protection for the EU.
The new General Data Protection Regulation that comes into force on May 25 provides EU citizens with greater control over their personal data. This new regulation reflects the current technological changes and the way in which companies and businesses collect and store information about their customers.
What companies does the GDPR / RGPD affect?
All companies that process personal data of citizens living in the EU, regardless of their place of origin or activity, are obliged to comply with this regulation.
What is personal data?
A personal data is basically any information concerning an identified person (it indicates directly to which person it refers, without the need to make further inquiries) or identifiable (it does not indicate to which person it refers, but it gives us enough information to be able to reach to find out your identity).
A personal data can be the name, the email address, or another type of digital information, such as the IP address.
Why it is important to protect your data
It is alarming the huge amount of personal information that can be obtained through social profiles, contacts, cookies and IP address. Any data that is obtained can then be stored and even sold. This will not happen anymore thanks to the RGPD.
Do you know your rights?
The RGPD contains important rights that protect the citizens of the EU. These rights are the following:
- Right to obtain transparent information: You have the right to obtain all information regarding the processing of your personal data in a concise, transparent, intelligible and easily accessible manner, using clear and simple language.
- The right of access: You can know if your data is being processed or not, and you can even request a copy of this data completely free of charge.
- The right of rectification: You have the right to rectify your inaccurate data or to complete your incomplete personal data.
- Right to withdraw your consent: You have the right to withdraw your previously given consent.
- The right of opposition: You can oppose at any time to the processing of your personal data that has as its object direct marketing actions. The company must accredit a legitimate and well-founded interest to be able to continue with the processing.
- Right to make decisions and create automatic profiles: You can oppose making automatic decisions about your personal data (“Automatic” means without human intervention, for example, the definition of your online shopping habits depending on your previous behaviors).
- Right to suppression (or right to be forgotten): You have the right to ask a company to delete all personal data relating to you, although the company, for its part, can object if that information were still necessary. For example, as proof in financial records, etc.
- Right to data portability: You can obtain your personal information and request that it be transferred to you or any other person from another company that you indicate.
How does it affect companies?
For companies, the RGPD could seem a headache. But, although it is true that it requires a lot of administrative work, the RGPD also represents a great opportunity to improve.
Companies need to review their processes and identify the objective and legal basis for processing their customers’ data. This ensures that personal data is safe and only what is necessary is processed. In this way, a company can not store information forever.
In general, the RGPD means greater transparency, which means greater loyalty and trust. The RGPD is beneficial for both clients and companies, and we love this at Ferratum.
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