General Data Protection Regulation
Regulation (EU) 2016/679
Regulation governing the protection and privacy of personal data in the EU. It ensures individuals have control over their personal information and sets obligations for organizations processing such data.
Scope:
European Union
Effective date:
May 25, 2018
Who does it apply to?
Organizations with data of EU residents.
Examples:
A company storing customer data of EU citizens.
Impact:
Improved data security, customer trust.
Risk of non-compliance:
High risk of financial penalties, legal action.
Fines:
Up to €20 million or 4% of the annual global turnover, whichever is higher.
Disclaimer:Oterion provides compliance platform tools and informational resources. However, we are not a law firm or legal service provider. The content in our website, ebooks, posts, and other materials is for informational purposes only and should not be considered legal advice. For specific legal questions or concerns related to any of our content, please consult with a qualified attorney or law firm.