Created to protect the freedom and privacy of people's data, whether you are a business owner in the Brazilian digital environment or not, you should start complying with this law today.
How does this impact your business? Read the article to the end and find out.
The General Data Protection Law (LGPD) is already in effect and serves to protect the freedom and privacy of people's data throughout Brazil.
In other words, if you are a business owner in Brazil, even if you are a MEI (Individual Microentrepreneur) or have your customer data manually written on a paper form, you need to comply with this law as soon as possible, because the longer you delay this compliance, the greater the risk of significant losses for your local business.
What data needs to be protected?
Personal data such as name, phone number, address, CPF (Brazilian tax identification number), and others must be protected, as well as data such as IP address, academic data, device identifier data, medical history, purchase history, among others.
Who needs to comply with the LGPD?
All individuals who are on Brazilian soil and collect data, whether from clients or even employees, ranging from the simplest data such as name and phone number, to the most complex and sensitive such as documentation and bank details.
If you have an informal local business, you also need to comply with the LGPD (Brazilian General Data Protection Law). This law doesn't concern the formality or informality of your business, but rather the collection of data, whatever the information may be, from any person.
If you run a preschool, you need to be extra careful with children's data, as the data of minors is considered even more sensitive than other data under the law.
No matter the size or format of your business, whether physical or digital, you need a system for managing and securing the data you collect from the people you own.
Every time you collect data, it must comply with the LGPD (Brazilian General Data Protection Law).
All collected data must be protected, including internal employee data; secure management of this information is essential.
Your customers' data also needs to be secure. I emphasize this because it's extremely important that no leaks occur, as consumers are also more vigilant with this law in effect.
This management process becomes increasingly complex as your sales and customer base grow, because the more data you collect, the greater the care and complexity required.
It's worth noting that the data you've already collected needs to be adapted to the LGPD (Brazilian General Data Protection Law) as soon as possible.
What is the impact of the LGPD (Brazilian General Data Protection Law) on your local business?
Whether digital or not, your business needs to start adapting right now, because this law is in effect and people are increasingly concerned about their data due to the many frauds and scams happening.
We still don't have a clear idea of the dosage for applying fines under the law, since there is no established case law on it yet, but the sanction states that fines for non-compliance with the LGPD (Brazilian General Data Protection Law) range from 2% of revenue up to 50 million reais.
Note that the fine is based on your revenue, not your net profit, so the loss becomes even greater and more concerning.
Don't wait for the ANPD (National Data Protection Authority), the Public Prosecutor's Office, or a client to demand this compliance from you; don't be vulnerable to this risk. You need to start the compliance process today.
Now that you know you need to adapt as soon as possible and that the losses can be enormous, Take the free trial now! To learn more about our platform, which could be the solution to help you comply with the law as soon as possible and keep your business thriving!
