Are you wondering why you’re getting all of these notifications and emails from different companies you’ve subscribed to? With the new CCPA law regarding personal data going into effect in January 2020 many companies both big and small are getting their ducks in a row. If you’re unaware the new CCPA law that has both the tech and marketing world in a frenzy is subjecting U.S businesses to a sea of privacy regulation changes. Americans will be able to demand that companies disclose what personal data they have collected about them and give customers the option to delete their personal data.
These changes came after the massive Equifax breach, where the credit bureau lost control of sensitive data of over 143 million people. Due to vulnerability on the companies website it was able to be hacked and sensitive information was stolen and sold on the black market. Other scandals like the Facebook Cambridge Analytica have also caused for these new laws to take place.
What to Know About the New Law
With this new law taking place consumers will be able to ask companies what personal data they have collected of theirs up to 12 months prior to the request. They will be able to demand that their data not be shared with any other third party and they will be given the option to delete their data.
Companies going forward will also have to be more upfront with customers disclosing their intentions with the customers personal data. These regulations are not just for California based companies but also companies who have customers or do business in California. Consumers also have the right not to be discriminated against because they have exercised their new rights.
The Business Side of It
As a business who is preparing for this new law to take affect, know there is a lot of work you should be implementing before January comes. The first thing you should be accomplishing is updating your U.S privacy policies laws and notifying your customers that your policies have changed. You will want to get an accurate idea on all the personal data you have of your client base.
Concerns some business owners have is being falsely accused of sharing data they don’t have, or storing all personal data in one place. There will definitely be a learning curve as the new laws begins at the start of the year. Companies should also be mindful that if they’re hacked and personal data is stolen under the new law customers can sue from $100 to $750. There is still some question from businesses about how this law will be enforced.