Data is breached every single day but most of these breaches don’t make headlines. When the European Union’s General Data Protection Regulation (GDPR) came into effect May 25, 2018, many companies who experience a significant data breach won’t just be dealing with a public relations snafu and financial strain brought on by the breach, but will also face large fines mandated by the regulation.
To get a sense for what the GDPR means for companies, we will review a few of the world’s largest data breaches and the implications if GDPR penalties would have been in place at the time of the breach. GDPR Overview The European Parliament approved the GDPR in 2016 with the intent of consolidating data privacy laws across Europe and to protect EU citizens’ privacy in an increasingly data-driven world. The GDPR covers ALL companies who process the personal data of those in the EU regardless of where the company is located.
Author: Bernard Marr