What are the implications of GDPR for businesses outside the EU?

The General Data Protection Regulation (GDPR) is a broad data security law that was passed in the European Union (EU) in 2018. This law has been adopted by other countries, such as California, and has implications for businesses outside the EU. Under the GDPR, any business that collects data from EU citizens must adhere to certain standards of data protection. This means that, if a business outside the EU processes personal data of EU citizens, it must comply with the GDPR. This could mean implementing additional data security measures and monitoring the security of the data. Businesses also need to ensure that they have a lawful basis for collecting and storing data, such as consent or contractual necessity. The GDPR also requires businesses to respond to requests from EU citizens in regards to their personal data. This means businesses must provide information on what data they have collected, delete or correct data upon request, and provide copies of data to EU citizens upon request. Finally, the GDPR imposes penalties for businesses that do not comply with its requirements. Businesses could be fined up to 4% of their global annual turnover or €20 million, whichever is higher. Overall, the GDPR has serious implications for businesses outside the EU, as it requires them to comply with the data security standards set forth in the law. Though there are certain exceptions for smaller businesses, it is important for all businesses to be aware of the requirements of the GDPR and take the necessary steps to ensure compliance.

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What are the implications of GDPR for businesses outside the EU?

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