Nowadays businesses are busy as a beaver complying themselves with the GDPR before the clock hits May 2018. Every single business dealing with clients in EU are bothered about the consequences they might face after the GDPR storm hits the ground.
Well, if all this sounds blot from the blue for you then let us just cast a glance over what we know and what should we know.
What is GDPR, again?
General Data Protection Regulation or GDPR is coming into existence with an aim to have a same set of rules all over the states for data protection and usage. This regulation lays out several laws of data protection, processing of personal data and free movement of personal data. It also contains all the rights and freedom of any person to protect and free movement of their personal data. Until now, GDPR consists of more than 95 Articles. Heck, you better complaint your business with those many articles! Getting your thinking cap on? Well, you need not worry! We have got it all covered for you. In our previous blog, we have shared all you need to know about GDPR and how to compliant your company with it.
Must Read: GDPR Compliance Checklist 2018: GDPR Checklist For B2B Marketing
What is Data Portability in GDPR?
GDPR has dropped a bombshell on the businesses with its Data Portability article! Although it mostly concerns the movability of any personal data but has a lot to do with the companies dealing with personal data of customers. In GDPR Data Portability, it states that anyone who has provided his/her personal data to any controller in a structure through any means has the right to ask back for the data. He/Shecan either ask the controller to directly import the data any other controller or can ask to import it back to the person without any hindrance. A This law basically is to empower more customers by facilitating them an easy way for the movement of their personal data. This also gives them the scope to compare the prices and import data easily between the service providers. Although the concept seems very fascinating, its pillars of strengths are still in doubt.
Risks to consider:
No business is behind in the race to complaint themselves with every possible aspect of GDPR. Despite their endless attempts, there is a lot to take care of. With a pressure like that, GDPR has almost become a nightmare for businesses.
1. Identity Theft
Identity theft is one of the most significant risks of GDPR Data Portability. As the person is entitled to ask the controller to import the data anytime, there are great chances that the controller might not identify the subject properly. GDPR also suggests that in order to identify the subject, a proper authentication process must be carried out. If in any case, the controller fails to identify the subject or provides the wrong data, it can be penalized for identity theft. For example, it is possible that there might be more than one subject with the same name or address or number. In order to segregate the right subject controllers must have some authentication process.
2. Confusion of the right data
We already discussed how confusing it can be for a controller to identify the right subject in context. This creates a smoke and mirror situation for the controller in any structure. GDPR Data Portability can be a bit hard on the controllers on account of the fact that it is not as easy as pie to serve all the data a person might ask for. For example, if Sandy Bungalow contacts your company and claim her data under the act of GDPR Data Portability and asks you to transfer the data to another service provider, will you be able to identify whether the right data has been transferred? How will you know whether you are dealing with the right Sandy Bigalow? Hello, confusion!
3. Reduced Customer Welfare
Adding on to the risk of confusion, customer welfare is another aspect of GDPR Data Portability people need to deal with. Although it justifies the benefits customers might get but the risks of unsatisfied customers are more. Even if a company complaints itself with all the acts under GDPR, how promising does it sound to extort all the data from each and every system of a company and convert it into a portable, accessible and transferable file? There is supposed to be a heck lot of work and confusion simultaneously. Summing it all up to reduced customer welfare.
4. Cost of compliance
Get ready to empty your pockets pals! The cost of compliance is for sure going to cut some big holes in your pocket. To keep your organization parallel to the GDPR Data Portability you need to have few tools installed on your system. Starting from a swift way to gather and export all the data at one place, converting into a specific format to creating an identity verification and authentication process. Well, that seems simple!
5. Misuse of personal data
Getting straight to the point there can be two scenarios, 1 the controller at the receiving end can be held reliable and 2 the subject can put them at risk. It is stated in the act that in case of any misuse of personal data after the transfer, the controller at receiving end must be held responsible. Again if you are at the receiving end and you do not verify the data that is been transferred to you, guess what? You will be the one held responsible for any kind of data misuse. Whereas in scenario 2, there are great chances that due to identity confusion you might transfer the wrong data to the wrong subject. In this case, the data can possibly be misused by the subject itself raising questions to your credibility.
6. Time Consuming
It is going to take hell lot of time for sure. To the complaint, your whole organization with not only GDPR but also with all the little aspect of GDPR is, of course, going to take time. As Data portability needs to be handled with immense care, you have to go through a lengthy process which may take a lot of your time. So buckle up your belts and get set for the game!”
Vikas Bhatt is the Co-Founder of ONLY B2B, a premium B2B lead generation company that specializes in helping businesses achieve their growth objectives through targeted marketing & sales campaigns. With 10+ years of experience in the industry, Vikas has a deep understanding of the challenges faced by businesses today and has developed a unique approach to lead generation that has helped clients across a range of industries around the globe. As a thought leader in the B2B marketing community, ONLY B2B specializes in demand generation, content syndication, database services and more.
