Privacy policies are different from data security agreements and cookie policies. A data security agreement is an internal document that outlines how you, your company, and any third-party vendors will work to safely handle your customers’ personal information. Your customers are unlikely to ever have a reason to read your data security agreement.
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In short: Yes! Several privacy regulation laws require privacy policies. This is a fairly recent development, and the laws aren’t the same everywhere.
The GDPR (General Data Protection Regulation) laws set guidelines starting in 2016 for how data can be collected and processed if you live or do business in the EU. The CCPA (California Consumer Privacy Act) is a state statute signed in 2018 meant to protect the residents of California from predatory data collection practices.
- The reason that your company is collecting the data. Is the data being used to market your products? Is it used to improve customer experience? Is it mainly for understanding who your target customer is? Maybe it’s a combination of these things and more. You will need to define your company’s reasoning for collecting and keeping customer data. You’ll also need to make a case for why it’s necessary for you to have this data in order to conduct business, according to GDPR regulations.
Managing privacy policies