GPDR (General Protection Data Regulation)
How many of you know anyone who services or sells products to international clients?
The shiny new General Data Protection Regulation or GDPR (as it's known to family and pals) impacts any US businesses that sell or operate in the European Union (28 countries). It goes into effect on May 15th and non-compliance can lead to some pretty awful consequences.
Still, you gotta love it because it was created to give individuals better control over their personal data, i.e. any information that can link back to them directly or indirectly. Personal data includes IP addresses & cookies or indirect information like physical, psychological, genetic, mental, economic, cultural or social identities.
Individuals must opt-in to receive communications and, if requested, their personal data must be erased without leaving a trace. A trace!
This can mean some pretty expensive technological and business process refinements for companies that must comply. Businesses are scrambling to meet the May 25 2018 deadline and avoid penalties:
- 20 million euros (approx. $25 million US dollars) or 4% of annual global turnover, whichever is greater.
Here's an awesome explanation and some (grrrreat) additional info: