EU General Data Protection Regulation – Effective May 25
On May 25, the European Union’s new General Data Protection Regulation (GDPR) went into effect. The new regulation affects all companies doing business with the European Union. This video from the BBC contains an overview of GDPR and how it affects businesses and consumers. Fines for non-compliance can be up to four percent of a company’s global revenue or up to 20 million euros (US $23 million), whichever is higher.
More information can be found at the U.S. Mission to the European Union’s Commercial Section here, or by contacting Amy Benson, Director of Idaho’s Export Assistance Center.