Upcoming GDPR Legislation Set To Have Global Impact

New General Data Protection Regulations (GDPR) are due to arrive in May 2018. GDPR will create a standardized data privacy law for EU members. It will also affect companies and individuals selling goods or services to EU citizens. The legislation will give individuals more rights to their data, including the “right to be forgotten” and asking consent for data processing. Potential fines for not adhering to the regulations can be up to $24m, or 4% of a company’s annual turnover. A recent PwC survey revealed that GDPR is a top data priority for more than 50 percent of US multinationals.[Image Credit: ©  EDPS]