Vincent
Created: May 15, 2024
Updated: July 10, 2024
General Data Protection Regulation (GDPR) is a regulatory framework that dictates the management of personal data for individuals within the European Union (EU) and the European Economic Area (EEA). It also applies to the transfer of personal data outside these regions, impacting any organization that deals with the data of EU citizens.
It’s known as a strict regulation, emphasizing transparency, security, and accountability by organizations, while giving individuals greater control over their personal data, underlining the EU's commitment to privacy as a fundamental right.
GDPR not only replaces previous data protection laws in the EU but also introduces significant changes and challenges for global businesses. Its broad scope means that any organization, regardless of location, that markets goods or services to EU residents, must comply with its stringent requirements.
GDPR has set a global benchmark for data protection and privacy, prompting many countries outside the EU to reconsider or reshape their own data protection laws. The regulation not only impacts IT infrastructure but also influences corporate culture, requiring a shift towards more data-conscious practices.
Personal data under GDPR includes any information related to an identifiable individual. This can range from names and emails to digital identifiers, financial information, and more.
Any organization, regardless of its location, that processes personal data related to individuals in the EU and EEA must comply with GDPR.
Penalties can be severe, reaching up to €20 million or 4% of the annual global turnover, whichever is higher, depending on the gravity of the breach.
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