Coming into effect on May 25th 2018, the EU General Data Protection Regulation (EU GDPR), a new directive, will provide a singular data protection law for the European Union – creating a reference and basis upon which security platforms can be initiated, to prevent the loss of personally identifiable information as a consequence of security breaches. The GDPR will enforce stringent data protection requirements for all organisations that possess or process personally identifiable information, and/or monitor the behaviour of EU citizens.
The GDPR not only applies to organisations located within the EU but will also apply to organisations located outside of the EU if they offer goods or services to, or monitor the behaviour of, EU data subjects. It applies to all companies processing and holding the personal data of data subjects residing in the European Union, regardless of the company’s location. Further, organizations can be fined up to 4% of annual global turnover for breaching GDPR or €20 Million for serious breaches of the regulations. Further information on the GDPR can be found here: http://www.eugdpr.org/
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