This January the Consumer Privacy Act (CCPA) will go into effect in California. While this is a California law, it has ramifications both across the United States and globally because it applies not just to all California based companies, but also to anyone who collects and uses the personal data of any California residents. Even if your company is not based in California, you will be affected if you:
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- Have annual gross revenues over $25 million.
- Annually buy, receive, sell, or share personal information of over 50,000 California consumers, households, or devices.
- Derive at least 50% of annual revenue from selling California consumers’ personal information.
How does the law work?
Californians will be able to request information from your company about what data is collected about them, why it was collected, how you received their information and who it was shared with or sold to. California residents will also have the right to bring a direct lawsuit if their unencrypted or unredacted personal information is subject to a data breach as the result of a business’s failure to implement reasonable security. If a company is found to be in violation of the CCPA, they have 30 days to comply with the law once regulators notify them of a violation. If the issue isn’t resolved, there’s a fine of up to $7,500 per record which can add up quickly when the volume of consumer records at a company is considered.
Start preparing now for the law to limit penalty
The new law goes into effect 1 January 2020, with an enforcement date of 1 July 2020. Don’t scramble at the last minute to keep your company compliant and customer data legally safe. Now is the time to guarantee your employees are well-versed in consumer privacy and data security best practices. Check out these courses offered through OpenSesame to get your workforce up to speed:
OpenSesame helps companies like yours develop the world’s most developed and admired workforces. For more information on how we can help you save time, money, and curate the right courses for your training program, contact us today at info@opensesame.com.