Does having a privacy policy make you compliant?

Myth: False. Having a privacy policy is necessary but not sufficient for compliance. GDPR and other regulations require the policy to accurately describe practices AND require those practices to comply with regulations.

A privacy policy that says you respect privacy while practices do not is worse than useless legally. The policy must reflect actual compliant behavior.

Privacy policies are disclosure tools, not magic compliance documents. Actually meeting regulatory requirements matters, documented accurately in the policy.