A unanimous move to protect data from cyber attacks and breaches, GDPR is a regulation and not just a directive, that has to be followed by all the organizations operating within Europe, European residents as well as all Non-European organizations trading with European nationals or companies.
This regulation will bring a new set of requirements to organizations around managing the privacy of data about any person who is classed as an EU citizen. Failure to comply will result in a fine of 4% of the annual worldwide turnover of the organization or 20 million Euros; whichever is higher.
With the GDPR initiative approaching fast, many organizations are worried about managing personal data effectively without losing business. They must ensure that they are compliant with the ruling ahead of the deadline, that they are doing enough to protect their customer’s data, and that they retain their customer base and company value in the process.
To know more in detail, read our whitepaper a glance at GDPR