With digitization and technological development at their peak, privacy-related challenges for companies are also on a rise. The information processed by companies about their data subjects can generate a prolific amount of personal information. This creates an urgent need to devise a structured policy that encapsulates disclosures pertaining to practices adopted by the Company on the collection, storage, and use of personal data of users.
Importance of Privacy Policy
Having a privacy policy in place is essential for the following reasons –
- Transparency & Accountability: To provide a sense of safety and security to the users by being clear, concise, and providing desired information to the users in an easily accessible manner
- Legal Mandate: In alignment with leading global regulations on data protection, GDPR (General Data Protection Regulation) and CCPA (California Consumer Privacy Act of 2018)
- Protection from Potential Risks & Penalties: It safeguards the Company from the possibility of being sued by an aggrieved user. Also, a defined structure can help avoid potential penalties
- Third-Party Obligations: Many third-party applications require the app developers to have privacy policies linked to their apps. Failure to do so can lead to suspension or even termination of the app
Is it Mandatory to have a privacy policy?
Yes! A privacy policy is a legal document that is developed to protect the personal information of users. A dedicated policy document helps demonstrate the Company’s commitment to safeguarding the personal information of its users and includes details on how the user information is processed.
How can we help?
- Existing policy review
- Assisting with devising dedicated policies – privacy policy, cookies policy, ToU (Terms of Use)
- Recommendations to enhance privacy solutions
