What is GDPR and why is it important for businesses?
GDPR stands for General Data Protection Regulation. It's a regulation in EU law on data protection and privacy. It's important for businesses because it protects the personal data of EU citizens and imposes strict guidelines on data handling.
What are the key principles of GDPR?
The key principles of GDPR include data protection by design, accountability, transparency, and the rights of individuals regarding their data.
How can my company ensure compliance with GDPR?
To ensure compliance, your company should conduct a data audit, implement data protection policies, train employees, and appoint a Data Protection Officer if necessary.
What are the penalties for non-compliance?
Penalties for non-compliance can be severe, including fines up to €20 million or 4% of annual global turnover, whichever is higher.
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