FYI
– This may affect your organization…please read.
California
has recently passed the United States toughest data privacy law “The
California Consumer Privacy Act of 2018 (AB378)”. Similar to GDPR
(General Data Protection Regulation) in the European Union, it gives consumers
more control over the use of their data. For any company that has assets
in California or handles Californians’ personal information, California’s new
Consumer Privacy Act of 2018 will
likely have an impact on an origination’s business
operations.
Organizations around the world have to comply with the California Consumer Privacy
Act if they receive personal data from California residents and
if they — or their parent company or a subsidiary — exceed one of
three thresholds: (a) annual gross revenues of $25 million; (b) obtains
personal information of 50,000 or more California residents, households or
devices annually; or (c) 50 percent or more annual revenue from selling
California residents’ personal information. Parent companies and subsidiaries
using the same branding are covered in the definition of "business,"
even if they themselves do not exceed the applicable thresholds.
As
written, the California Consumer Privacy Act of 2018 requires the following:
·
The new law grants consumers the right to know what information
companies are collecting about them, why they are collecting that data and with
whom (3rd parties) they are sharing it.
·
Gives consumers the right to tell companies to delete their information
as well as to not sell or share their data.
·
It also makes it more difficult to share or sell data on children
younger than 16.
The
California Consumer Privacy Act of 2018 legislation is similar to the GPDR law
which went into effect May 2018. To assist organizations with managing
data privacy, Oracle has delivered several new features within PeopleSoft HCM
like Employee and Applicant Delete (right to be forgotten), Acknowledgement
Framework (for consent). For additional information on the delivered data
privacy features – https://blogs.oracle.com/psftlegupdates/peoplesoft-hcm-data-privacy-update
Failure
to comply with these new laws could be costly to businesses with civil
penalties resulting from an action by the state attorney general of up to
$7,500 per violation.
The
legislation, goes into effect in January 1st, 2020
