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Similar to Europe's General Data Protection Regulation (GDPR), though with several key differences, California's data privacy act is a governmental framework designed to help safeguard consumers' sensitive personal information.
As the digital landscape has evolved over the past decade, the tech sector's notion of consumer rights have expanced - particularly when it comes to sensitive data. With a number of highly-public sensitive data breaches in recent years, personal information - from Social Security Numbers to payment card data - needs to be safeguarded more vigorously than ever before.
California's data privacy act, known as CCPA, is an effort to do just that. It's a governmental framework designed to help make sure organizations are properly protecting their customers' sensitive personal data.
Aside from letting you access California's huge economy by serving consumers that reside in California, CCPA compliance also helps your business:
Failure to fulfill every single compliance requirement can lead to severe monetary repercussions.
Make your customers feel 100% safe handing you their sensitive personal information - they deserve it.
Sensitive data leaks can ruin your customers' personal finances, and take your business down as well.
Companies that want to benefit from the vast market opportunities in California must achieve and maintain CCPA compliance. Specifically, any for-profit entity (merchant or service provider) that operates in California and meets at least one of the following characteristics must comply:
If your business checks any of the boxes below, CCPA applies to you:
Generates annual gross revenue > $25M
Buys, sells, shares or receives personal data from at least 50,000 California individuals, households or devices annually
Earns more than half their revenue from selling personal data
How VGS streamlines CPPA compliance:
Providing your users with information on what personal data of theirs is collected and why.
Providing your users with details on what personal data is sold or sent for business purposes, as well as to whom.
Designing on opt out/opt in process for your users.
Responding to consumer requests for their personal data.
Preventing and defending against statutory damages.
From data mapping and designing an opt-out option, to testing and verifying your data security controls, the requirements for CCPA compliance are often too much to handle for small-to-medium-size organizations - particularly if they don't already have a compliance team.
Fortunately, the do-it-yourself (DIY) method of achieving compliance isn't the only route. By implementing an end-to-end data privacy solution, like VGS, businesses can skip most of the above steps.
VGS' Zero Data platform handles all collection, storage and transfer of sensitive data on the company's behalf, ensuring that private user information never even touches your databases.
By leveraging VGS' innovative data aliasing technology, companies enjoy all the benefits of their users' sensitive data without the risk.
This webinar covers the requirements of the California Consumer Privacy Act (CCPA) as well as the steps organizations need to take in order to become compliant, prevent data breaches and avoid financial penalties for non-compliance – led by compliance expert Channin Gladden.