What the GDPR Really Means for US Companies
On May 25, 2018, the European Union’s new set of privacy laws—the General Data Protection Regulation (GDPR)—went into effect.
All companies—even those based in the United States—that target individuals and consumers in Europe and process personal data in doing so, need to comply with the new regulations. Otherwise, they can face fines of up to €20 million or 4% of annual turnover, whichever is greater.
The GDPR represents the first overhaul to European privacy laws in more than 20 years. Some of the major changes that are now in effect include:
- Organizations must inform their customers within 72 hours of learning their systems have been breached and their data has been compromised.
- Companies must provide their customers with copies of their personal data files upon request.
- Companies must delete their customers’ personal data upon request, respecting the right to be forgotten.
- Privacy protections need to be built into the foundation of systems—not added as an afterthought.
Is your enterprise ready for the GDPR? If not, you’re not alone.
According to an April 2018 survey, only 13% of US firms indicated they thought they were ready for Europe’s new privacy laws. Further, 52% of US businesses said they were still trying to figure out how the GDPR applied to their operations.
To increase competitive advantage and avoid regulatory scrutiny, organizations that collect data on European individuals need to understand how the GDPR affects them and figure out which proactive steps they can take to ensure compliance.
To this end, we’re thrilled to announce a webinar on Tuesday, June 19, at 9 a.m. PT that will focus on GDPR , including:
- Learn exactly what the GDPR means for companies based in the U.S.
- Discover how a hybrid cloud database, in particular, can help you ensure GDPR compliance and protect your most sensitive data
We look forward to helping your organization achieve GDPR compliance.