GDPR, or the General Data Protection Regulation, became effective on May 25, 2018. Simply put, EU citizens now have greater say over what, how, why, where, and when their personal data is used, processed, or disposed of. GDPR clarifies how the EU personal data laws apply even beyond the borders of the EU. For more detailed information, visit the European Commission website.
Any organization that works with EU citizens’ personal data in any manner (irrespective of location) has obligations to protect the data under GDPR.
There are many positive business outcomes of compliance with GDPR including efficient data management, streamlined processes, transparency, security, better internal controls, risk reduction, long-term cost reduction, and updated technology.
Penalties for non-compliance can be steep with fines up to 4% of revenue or €20 million, class action lawsuits, disruption to your business, brand damage and more.
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