How will GDPR enforcement impact your business?
In the wake of growing concerns about the theft and misuse of big data and personal information, the European Union (EU) has passed the General Data Protection Regulation (GDPR) enforcing the right to personal data protection of the individuals throughout the Union with effect from May 25, 2018. What is GDPR? The EU General Data Protection Regulation (GDPR) is new legislation aimed at protecting the data privacy of all EU citizens and residents. It aims to simplify the regulatory environment for international business by harmonizing the data protection acts among its member states. A very important component of the act is the control of the transborder flow of private data outside the EU and prevention of personal information abuse by entities outside the Union. Enforcement of GDPR has several implications for businesses , academia and non-profit organizations working on data collected or derived from EU nationals and residents. GDPR Timeline of Events: GDPR started as European D...