How to Keep B2B Data Compliance and Privacy Check in 2024?

Every year, the B2B data compliance regulations around the world are evolving and if you’re into the B2B industry, it might be a lot to take in. So, we made this simple yet educative guide to provide the knowledge of data compliance regulations for 2024. It’s time to uphold high standards of compliance to serve the people who trust us the most.

Keep scrolling 👇

B2B Data Compliance Regulations

GDPR

The General Data Protection Regulation (GDPR), which took effect in May 2018 across the entire EU and EEA, has two primary objectives,

‍

‍

Although GDPR compliance regarding personal data processing mostly extends to B2B companies dealing with B2B data lists, they can still engage in marketing activities like cold calls or emails if they have a lawful basis, such as legitimate interest, and stick to applicable requirements.

Non-compliance with the GDPR carries hefty penalties with the maximum fine reaching €20 million or 4% of the company's annual worldwide turnover for the preceding year, whichever amount is greater.

Data Privacy in USA

As of now, the United States does not have a comprehensive federal data security and privacy law. However, circumstances for privacy protections suggests that this may change soon.

The proposed American Data and Privacy Protection Act (ADPPA) represents a significant step towards establishing the country's first federal legislation safeguarding individual privacy rights.

Following California's lead, several other states have introduced their own data security and privacy acts:

The Colorado Privacy Act (CPA) came into effect on July 1, 2023. It grants residents the right to opt out of personal data processing for targeted advertising.

The Connecticut Data Privacy Act (CDPA) also took effect on July 1, 2023. It lets the consumers with choices regarding their personal data collected by businesses operating in the state.

The Virginia Consumer Data Privacy Act (VCDPA) was enacted on January 1, 2023. It applies to both non-governmental and governmental organisations that control and process personal data.

The Utah Consumer Privacy Act (UCPA) was implemented on December 31, 2023. It primarily affects businesses with an annual revenue exceeding $25 million, adopting a more business-friendly approach.

Moreover, 19 other states have introduced regulations for various degrees of data protection. It shows a growing and evolving stage of B2B data privacy and compliance in the USA for the years ahead.

CCPA and CPRA

The California Consumer Privacy Act (CCPA) was enacted in 2018 in California, United States. It applies to for-profit entities operating in California which meet certain criteria.

The law also encompasses entities that have control over or are controlled by covered businesses, or those with shared branding. Certain provisions of the CCPA pertain specifically to service providers and third parties.

‍

‍

B2B marketing activities fall under the scope of the CCPA, though some aspects did not apply to B2B companies until 2021. Violations of the CCPA can result in penalties of up to $7,500 per intentional violation.

The California Privacy Rights Act (CPRA) is a ballot initiative amending the CCPA, improving consumer privacy protections and establishing the California Privacy Protection Agency to enforce the law. The CPRA came into effect on January 1, 2023.

Is Compliance Essential?

Yes, with businesses and technology evolving people’s concerns over their data privacy is increasing. So, every country has started to state their own regulations for data protection.

What can businesses do at this time?

If you’re into B2B and trying to stay ahead of the curve among these compliance regulations, then the best way to start might probably be working with a technology that already ensures compliance. Check out InFynd, a B2B lead generation platform where you can find the contact data of your ideal customers and high-end decision-makers in the United Kingdom.

‍