The European Union’s General Data Protection Regulation (GDPR) law, which takes effect on May 25, 2018 – just two months away – imposes a strict set of requirements on how and why companies collect and use the personal data of EU individuals.
For example, this worldwide requirement enables individuals in the EU to limit and control how international businesses collect, process and use their personal information. It allows them to decide what information they share, and it provides individuals with the “right to be forgotten.”
If you currently have EU customer information and don’t comply with the GDPR requirements, you could face fines of €20 million or 4 percent of your global annual revenue, whichever is higher.
If you have EU clients or customers, chances are it will affect you. Read up on GDPR in Adweek this week.