How does the GDPR handle data subject requests in the context of business transactions?

Under the General Data Protection Regulation (GDPR), data subjects have the right to request access to, rectification of, or erasure of their personal data held by businesses. These rights have implications for businesses involved in transactions, as they must comply with data subject requests to remain GDPR compliant.

Individual Rights

Individuals have the right to access their personal data that businesses hold. This means that data subjects can request access to the information companies have about them, such as what data is being processed and for what purposes.

Data subjects also have the right to rectify any inaccuracies in their personal data. If individuals believe that the data being held about them is incorrect or incomplete, they can request that businesses update or correct the information.

Furthermore, individuals can request the erasure of their personal data in certain circumstances. Businesses must comply with data subject requests to delete personal data if it's no longer necessary for the purpose for which it was collected or if the individual withdraws their consent.

Compliance Requirements

Businesses must establish processes to handle data subject requests efficiently and within the GDPR's specified timelines. They are required to verify the identity of the individual making the request to ensure the security of personal data.

Non-compliance with data subject requests can result in penalties and fines for businesses, underscoring the importance of adhering to GDPR regulations in the context of business transactions.