13 Dec CCPA: the California Consumer Privacy Act. Click to keep reading…
The California Consumer Privacy Act (CCPA) applies to for-profit organizations with revenue of more than $25 million that buys, sells, receives or shares personal information about more than 50,000 CA residents. Effective January 1, consumers may request access to their data. Businesses have to disclose what information is collected, and what information has been sold or transferred to other businesses.
Any business that sells consumer information, must disclose that to the consumer and give them the option to opt out of the collection (and sale) of their data. F. Paul Greene, partner at Harter Secrest & Emery LLP, suggests that a “new development we’re going to see on many websites, once CCPA comes into play, is a button or a link that says: ‘Do not sell my personal information.’”
While CCPA is California law, it will have a widespread impact, “It’s the fifth largest economy in the world where the majority of our data lives. The internet giants are all based in Silicon Valley. It has an immediate effect on individuals around the world as well as businesses,” Greene remarked.
The New York law will go into effect March 21, 2020, and will focus more on how businesses secure information. It will apply to organizations with more than 50 employees, more than $3 million in gross revenue in the past three fiscal years, or less than $5 million in year-end total assets. Smaller companies are still responsible for taking reasonable safeguards to protect all consumer information that it collects.
Learn more about CCPA and compliance at the Compliance Governance and Oversight Council website.
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