Are you sure that the CCPA applies to your company? There’s a chance that you might not have to worry about complying with the CCPA rules.
Let’s take a look at who the CCPA affects:
Who is Affected by the CCPA?
What you need to know about the CCPA is that it applies to businesses within California.
However, if your company does business with California or that at least affects California residents, then you still have to comply with the CCPA.
Also, in order to be affected by the CCPA, your business needs to at least fit one of the following criteria:
- Have an annual income of at least $25 million
- Collect, buy, or sell the personal information of 50,000 or more California residents
- Derive 50% or more of their annual income from selling California residents’ personal information
Those are the most basic things to know about who the CCPA affects. As long as your company fits into any of these details, then you will have to comply.
So, that’s it, right? You now know what you need to know about the CCPA and can either comply or not comply.
Well, compliance is not actually as easy as you might think. Here’s why that is:
Companies and Compliance
If your company is affected by the CCPA, then you have to comply. And, unfortunately for you, this is not a case where nothing will happen if you fail to comply. Not complying with the CCPA rules has actual consequences.
If you don’t comply, you might end up getting a fine.
Fines are not your typical speeding ticket. They are actual penalties that can really harm your business’ reputation and image.
Fines can also be pretty expensive. And, the more you fail to comply with the CCPA, the more fines you will get. And every fine becomes more and more expensive the more they stack up.
But, that won’t even be the worst of your worries. If your company doesn’t comply with the CCPA, there’s a chance that your customers will sue you for not respecting their rights.
That is something that you desperately want to avoid. Customers are crucial for any business. Without them, no business would ever have the chance at succeeding.
Well, if there is no trust, then how will you be able to get the customers that will help your business rise to the top. If your customers sue you, then there’s a really high chance that they will never trust you again.
So, how can you avoid that? Well, complying with the CCPA would be a great start. You don’t have to worry about what you’re going to do or say to your customers if they ask any questions regarding their data.
Plus, your business will actually grow. Why wouldn’t it? After all, you are assuring your clients that their data is safe and making good on your word too.
So, in the end, why wouldn’t you comply?
Compliance Leads to Success
Compliance is the best road towards success.
Why risk getting fined, when you can learn everything there is to know about the CCPA and stay on top of everything you need to do to better your business.
We, at BitTruster, can help you do that. We’re here to help!