GDPR
GDPR stands for General Data Protection Regulation, which is a regulation in EU law on data protection and privacy for all individuals within the European Union (EU) and the European Economic Area (EEA). It came into effect on May 25, 2018, replacing the 1995 Data Protection Directive. GDPR aims to give control to individuals over their personal data and to simplify the regulatory environment for international business by unifying the regulation within the EU. It requires organizations to implement appropriate technical and organizational measures to ensure the security and protection of personal data, and to report data breaches within 72 hours of becoming aware of them. GDPR also gives individuals the right to access their personal data, to have it erased, and to object to its processing. Failure to comply with GDPR can result in significant fines of up to 4% of a company's global annual revenue or €20 million, whichever is greater.
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