What is GDPR?

The General Data Protection Regulation (GDPR) is a comprehensive legal framework designed to protect personal data of individuals within the European Union (EU). Enforced since May 25, 2018, GDPR aims to give citizens control over their personal information while simplifying the regulatory environment for international business.

Key Principles of GDPR

GDPR is founded on several key principles that organizations must adhere to when handling personal data. These include lawful processing, transparency, data minimization, and maintaining accurate records. Organizations are required to process personal data fairly, explain the purpose clearly, and ensure the data is relevant and limited to what is necessary.

Implications for Businesses

For businesses operating within the EU or targeting EU citizens, compliance with GDPR is crucial. Failing to meet these regulations can lead to significant penalties, including fines of up to 20 million euros or 4% of global annual turnover. Therefore, organizations must implement robust data protection measures and rethink how they manage customer data, gathering consent and ensuring accessibility.