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

The General Data Protection Regulation (GDPR) is a European law that was passed in 2018 to protect the personal data of European citizens. It applies to any business that processes the data of European citizens, regardless of where that business is located. Thus, businesses outside the EU must also comply with the GDPR if they process the data of EU citizens. This law imposes strict requirements on businesses when it comes to the protection of personal data. Under GDPR, businesses must ensure that all data is stored securely and that the data subject (the person whose data is collected) is informed of and has consented to the collection and use of their data. Businesses must also provide data subjects with access to their data and the ability to delete it upon request. Failure to comply with the GDPR can result in hefty fines, which can range from €20 million to 4% of a company’s global annual revenue, whichever is greater. Businesses located outside of the EU must take GDPR into account when dealing with EU citizens’ data, as they may be subject to the same penalties as businesses located inside the EU. In addition to the potential for fines, non-compliance with GDPR can damage a company’s reputation and have a long-lasting negative effect on their customers’ trust. It is important for businesses located outside the EU to make sure they understand and comply with the GDPR in order to avoid any legal and reputational risks.

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

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