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Data Privacy: California Consumer Privacy Act (CCPA)
The EU’s General Data Protection Regulation (GDPR) has come to the US, or at least first to California. California’s CCPA law, also known as AB 375, is GDPR-like in formulation and sets standards for how private data held by businesses need to be secured. CCPA has been in effect since January 1, 2020. Nevada, New York and Washington DC are considering similar laws.
Xavier Becerra, Attorney General of California, said that the CCPA is “groundbreaking protection for consumers, it gives them the ability to control the use of their personal data and once again we’re first in the nation to do something like the CCPA act.”
Businesses that do any transactions in California and which are at least $25 million in revenues or which collect data on more than 50,000 people fall under this regulation.
If a business is found to have violated the law, they have 30 days after being notified to comply and correct the problem or else suffer a fine of up to $7500 per record.
Businesses with less than 20 people are estimated to have to pay $50,000 to become compliant, while larger businesses are expected to average about $2 million to achieve compliance, based on a report prepared by the Berkeley Economic Advising and Research.
Shahryar Shaghaghi, a CCPA expert at CohnReznick Advisory, said that “in order to be compliant with CCPA you need to carry out a data mapping exercise so you can see where you get your data from, and where it goes, And if a customer requests its deletion then you have to respond in a certain amount of time, so you have to be able to understand what data you have and how you delete it.”
