If you do business in Europe, you need to know about GDPR

The European Union's General Data Protection Regulation (GDPR), effective from May 25, 2018, aims to enhance the control EU residents have over their personal data by replacing the 1995 Data Protection Directive. It requires businesses involved with the personal data of EU residents to adhere to strict standards regarding data collection, control, and processing. Companies must have a legal basis for data activities, ensure transparency, promptly report security breaches, and integrate data protection measures by design and default. The regulation defines personal data broadly, including identifiers like social security numbers and biometric markers, and distinguishes between data controllers, who determine data use, and data processors, who manage the data. Non-compliance can lead to severe penalties, such as fines up to €20 million or 4% of the company's global revenue. Organizations are advised to avoid a fragmented approach to compliance and instead conduct thorough data discovery and analysis to align with GDPR requirements.

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