Online compliance is changing rapidly. How can businesses adapt?
Taking the easiest route requires a fine understanding of how their business operates in the digital space, and how and why to take actions on the data they hold.
Digital privacy is a huge factor for consumers when purchasing services and, as TechCrunch outlines, the global nature of digital society makes that difficult to comprehend fully.
Every country and region has a different take on data privacy and protection, and successfully navigating the rules can be a minefield.
For businesses, taking the easiest route requires a fine understanding of how their business operates in the digital space, and how and why to take actions on the data they hold.
The main crux of data protection laws concerns the retention of data. What you retain from customer transactions is important, and can have a huge impact on the life of your customer and your business. Using web archiving services is a good start, as it can automate the retention of data from transactions.
What needs to be understood, however, is the level and type of data you retain. As Security.org notes, the ‘big tech’ companies retain a huge range of information that has, in the past, landed them in hot water with regulators. It’s important that small business owners without the legal resources to fight huge lawsuits take a granular approach.
For American businesses, you are bound to a wide range of smaller laws that cut through the national and local levels. According to the New York Times Wirecutter, there are currently seven laws that are particularly relevant.
Digital businesses are generally free to collect and exchange information, but it’s at the state level where you must be cautious. A good idea is to retain a third-party expert in data law to help decipher the exact statutes at a local level.
Most internet users will, at one point or another, have seen GDPR warnings – either home or abroad – when using the internet. This is due to the all-powerful EU GDPR regulation and its UK counterpart, which have a necessarily large impact due to the huge consumer market involved.
GDPR is more stringent than US law and more severe in terms of punishment. Archiving is a central part of the rules and something businesses must consider in detail.
Typically, you’ll be safe by retaining sales receipts for a period of seven years or more, and retaining customer data only in its basic form – name, contact details, and so on. However, it really does pay to assess the environment at a local level to stay truly safe.