The General Data Protection Regulation has been approved and went into effect May 25, 2018. The GDPR applies to ALL companies processing and holding the personal data of data subjects residing in the European Union, regardless of the company’s location. GDPR imposes strict requirements on how consumer data is collected, used, and stored, including U.S. companies doing business in EU countries. Security breaches must be immediately disclosed, explicit consent for data collection is required, and users have the right to full erasure of data – with all costs for technology, people, and processes carried by the entity collecting the data. With this new regulation comes a plethora of fines if the data is mishandled.
Join RB Advisory in learning how the new General Data Protection Regulation may affect your business and how you can mitigate any risk and fines associated with it going forward