U.S. firms have been warned of the impact European data and privacy protection reforms will likely have across the Atlantic.
The General Data Protection Regulation (GDPR) takes effect within the EU in May next year, threatening even global firms that provide services to EU citizens with mammoth fines if customer information is not adequately secured.
“If you are doing business with European consumers then you are considered to be engaging with EU consumers, and are therefore required to protect EU consumers’ rights,” said Russ Schrader, general counsel and chief privacy officer at Commerce Signals.
Request a Free Trial
As a trusted source of regulatory intelligence for the global payments industry, we enable organisations to manage the growing volume and velocity of regulatory risk with confidence, empowering more informed and effective decision making, in an efficient and cost-effective way.Take a Trial