E-Sign explains what this legislation means for you and your customers when processing electronic document transactions.
The General Data Protection Regulation (GDPR) is a raft of legislation (part of Article 8 of the European Convention on Human Rights) that aims to bring the laws regarding data into line with the realities of the Information Age.
It has been the biggest change in information security legislation since the Data Protection Act of 1998, and is part of an EU policy that aims to make companies accountable for the security of the data they hold, and enforce serious fines if they do not measure up to the new standards of responsibility.
The legislation has a complex set of standards that companies must adhere to and eye-watering fines (up to €20 million or 4% of global turnover, whichever is the higher) for non-compliance.
The legislation gives comprehensive oversight on all data-related issues, and effects almost every business that deals with customer data on any level. It will include:
The (GDPR) was approved and adopted by the EU parliament in April 2016 and came into effect into effect on 25 May 2018. GDPR does not require any enabling legislation to be passed by government (unlike Europe’s Data Protection Directive 95/46/EC), meaning it will be in force across the EU after 25 May 2018.
One of significant features of the GDPR is about making it clear to individuals what and how their personal data is being used, by whom and for how long. Data controllers will be required to be transparent about what data is being processed and for what reasons. Companies must handle data with transparency, competency and accountability. The legislation recognises the value of data, both in terms of personal privacy of your customers and data as a resource that can be bought and traded.
Individuals must also be informed what their data is being used for. Contact details must also be made available in respect of any part of the data controller’s data processing actions. One of the most important changes involves strengthening the standards of obtaining consent to process data. Failure to obtain proper consent to process data, which includes contacting individuals, risks substantial fines.
Personal data refers to any information that relates to an identified or identifiable individual. This information can be used, directly or indirectly, to identify a specific person. Personal data can be collected, processes and stored in various forms, including physical records and electronic formats. Some common examples of personal data include
1. Name: full name, first name, last name or any variation of the name
2. Contact information: Phone number, email address, postal address or social media handles
3. Identification numbers: social security number, passport number, drivers license number, or national insurance number
4. Data of birth: birthdate, age or birthplace
5. Financial information: bank account numbers, credit card details, income or tax-related information
6. Health information: medical records, health conditions, or any other health-related data
7. Biometric data: fingerprints, facial recognition data or voiceprints
8. Internet identifiers: IP addresses, cookies or online identifiers
9. Employment information: job title, employment history, or performance reviews
10. Demographic information: gender, ethnicity, maritial status or nationality
Yes. E-Sign is ISO 27001 compliant with robust security safeguards in place. E-Sign continues to monitor the regulator guidance and interpretations of key GDPR requirements, ensuring compliance with the General Data Protection Regulation (GDPR). E-Sign also aligns with the intention as well as the detail of the GDPR, as using E-Sign’s digital signature platform increases both the security and the accountability of your transactions and data.
