What does GDPR stand for?

GDPR stands for General Data Protection Regulation. It is a European Union (EU) law that governs the way organizations can use, process, and store personal data.

Who does GDPR apply to?

GDPR applies to any entity or organization that offers goods or services to or targets and collects data related to people in the EU. It applies regardless of where websites are based.

In simple terms, what does GDPR do?

GDPR gives consumers control over how companies use their personal data, allowing them to refuse companies the right to collect, use, or share their personal information. Companies must inform consumers on how they use consumer data and each time it’s at risk.

Does GDPR apply to all data?

GDPR applies to personal data, which means any information relating to an individual.

What are the fines for GDPR noncompliance?

GDPR fines can be severe. Less severe infringements can result in fines of up to €10 million or 2% of the firm’s worldwide annual revenue from the preceding financial year, whichever amount is higher. More severe infringements can lead to fines of up to €20 million or 4% of the firm’s worldwide annual revenue from the preceding financial year, whichever amount is higher.

How do companies become compliant under GDPR?

To remain compliant under GDPR, companies must follow several steps:

• Conduct an information audit for EU personal data.
• Inform customers why their data is processed and obtain consent.
• Assess data processing activities and improve data protection.
• Establish data processing agreements with vendors.
• Appoint a data protection officer if necessary.
• Designate a representative in the European Union if required.
• Have a plan for handling data breaches.
• Ensure compliance with cross-border data transfer laws if applicable.