The EU General Data Protection Regulation (GDPR) wills going to affect from May 25th 2018 and we know it includes fines of up to the greater of €20 Million or 4 percent of corporate annual turnover for firms that do not comply.
The GDPR covers companies, business and organizations operating within the EU. But there are questions about firms residing outside.
In short we can say that: The General Data Protection Regulation (GDPR) will affect firms both inside and outside of the EU. In fact, any company dealing with EU businesses’, residents’, or citizens’ data will have to comply with the GDPR.
Companies, Organizations and business outside of Europe must first decide if they currently are or are planning to conduct business in the region. Because, this requires careful consideration i.e. even if a company does not have a European presence, it will still have to understand the impact of GDPR if it processes an EU resident’s personal data in connection with goods and services offered to that person, says Saurabh Ghelani, data protection and GDPR expert at PA Consulting Group.
For more information about GDPR:
GDPR Data Governance by Design and by Default
Things You Should Know About Governance and Management System for GDPR Compliance