What is the US equivalent of GDPR

What is the US equivalent of GDPR?

What is GDPR?

The General Data Protection Regulation (GDPR) is the world’s most stringent privacy and security law.

Despite the fact that it was designed and passed by the European Union (EU), it imposes duties on organizations anywhere that target or collect data about EU citizens.

On May 25, 2018, the regulation went into effect. Those who break the GDPR’s privacy and security regulations will face severe fines, with penalties ranging in the tens of millions of Euros.

What is the US equivalent of GDPR?

In the United States, there is no federal data privacy regulation comparable to GDPR. Several national laws have been enacted to control the use of data in specific businesses.

The United States Privacy Act of 1974 establishes rights and restrictions for data kept by US government agencies.

1996 – The Health Insurance Portability and Accountability Act (HIPAA) is enacted, which governs the healthcare industry’s privacy and security.

The Gramm-Leach-Bliley Act (GLBA) of 1999 controls how financial institutions gather and use nonpublic personal information about their customers.

The Children’s Online Privacy Protection Act (COPPA) was enacted in 2000 as a first step in regulating the collection of personal information from youngsters. The rule prevents internet companies from requesting PII from children under the age of 12 unless they have verifiable parental approval.

What is the US equivalent of GDPR

Now we’ve arrived to the year 2020. In the last 20 years, there has been substantial progress toward a consistent framework of data privacy best practices across states and sectors.

The Federal Trade Commission (FTC) has been the sole guiding force in enforcing penalties against digital and social media companies that have misled customers about how their data is gathered and sold to third parties.

Fines, on the other hand, are ineffective forms of regulation since they do not assist businesses in understanding and implementing best practices.

What’s needed is a framework that will assist organizations through the process of building good data privacy policies and procedures from the ground up. It’s not just about penalizing infractions; it’s about changing the culture from the top down.

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