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What is GDPR?
An overview of the GDPR Regulation
Watch the Governance, Risk & Compliance Video
Which companies are affected by the GDPR?
To summarize, GDPR has a wide reach and is applicable to:
- Organizations operating within the EU who are processing customer data
- Organizations outside the EU that offer goods or services to individuals in the EU
- Organizations with EU employees
The GDPR supersedes all previous national legislation relating to data privacy, even in the case of the UK, who confirmed its intention to abide by it. Despite the GDPR introducing a number of important features to the data privacy space, the most surprising aspect is the extraordinary financial penalties reserved for noncompliant businesses. At the top of the range, serious offenders can expect fines equivalent to 4% of their annual global revenue or €20 million, whichever sum is greater.
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