How CCPA changes in 2023 affect your business

[#1]

Gathering data is one of the leading resources that benefit businesses in analyzing their customers' needs, which helps improve their products to fit and satisfy the marketplace. Yet, it triggers a massive concern among corporations and consumers when it comes to the security and privacy aspect. Abusing data is an enormous problem in this digital age; that's why data privacy laws  are being implemented across the globe to protect and guarantee privacy rights.

The California Privacy Rights Act (CPRA) is a recent update to the CCPA data privacy law that protects California residents with an enforcement date of January 1st, 2023. As a result, organizations based in California are investigating how to transition and abide by the new changes of CCPA in 2023 we explained in our latest article to avoid hefty penalties that can go up to $7,500 per violation.

Which businesses are impacted by the recent changes?

The recent update to the CCPA data privacy law impacts any business that collects, shares, or sells personal data and profits more than $25 million or gathers personal information of more than 100,000 users will fall under the scope of CPRA. However, small or medium entities are exempt from the CPRA, but they still need to abide by the CCPA law. That’s why it is essential to identify and research all the amendments to ensure the threshold is met.

What does it mean for impacted businesses, and what are the CCPA requirements?

1. It will be easier to sue companies that fail to protect the user’s data. As a result, businesses should prepare by creating well-grounded strategies to improve security measures while managing sensitive information.

2. Every entity should go through a clean-up process to filter archived information by keeping the necessary and eliminating any data that might cause a pitfall for non-compliance. It is against the CPRA regulations to keep data that doesn’t serve the organization’s purpose and for longer than needed.

3. Companies should keep track of any recent changes in privacy laws. Then, update all the systems and policies to align with the CPRA guidelines. Finally, ensure that contracts and agreements with third parties and providers contain all the CPRA requirements.

4. Businesses should conduct yearly cybersecurity audits and risk assessments to prevent corruption against the consumer’s privacy.

CCPA compliance for your business

It isn’t easy to monitor and store large amounts of data while staying within the regulations. In addition, most companies are not adequately equipped to handle the most recent amendments, but efforts are being made to address this transition.

The CCPA changes will impact many businesses in California, but if you are a Jira user, relying on tools is a great solution to become and stay CCPA compliant.

Picking the right Jira app from the Atlassian Marketplace will automatically enable your team to benefit from detailed insights that will guide you in the right direction.