What is CCPA?
The California Consumer Privacy Act (CCPA) places data privacy obligations upon any organizations that collect personal data from California residents, regardless of where the company is located. The CCPA was passed to give consumers key data privacy rights, including the right to understand and access the personal information being collected about them. CCPA applies to:
- All companies that serve California residents and have at least $25 million in annual revenue.
- Companies of any size that have personal data on at least 50,000 people; or that collect over half their revenue from the sale of personal data.
When does CCPA go into effect?
CCPA was passed in 2018 and goes into effect on January 1, 2020.
What are the penalties for failing to comply with CCPA?
Once regulators advise them of a violation, companies have 30 days to comply with the CCPA. After that, failing resolution, fines accrue up to $7,500 per record.
How can I learn more about CCPA?
California Consumer Privacy Act: What risk managers need to know