How does GDPR affect US companies?
An example of an AI chatbot conversation about GDPR's impact on US businesses.
What is GDPR and how does it impact US companies?
GDPR stands for General Data Protection Regulation. It's a regulation in EU law on data protection and privacy. For US companies, it means they must comply with strict data handling and privacy standards when dealing with EU citizens' data.
What are the main requirements for US companies under GDPR?
US companies must ensure transparency in data collection, obtain explicit consent from users, allow data access and deletion requests, and report data breaches within 72 hours.
What are the penalties for non-compliance?
Penalties can be severe, with fines reaching up to 4% of a company's global annual revenue or €20 million, whichever is higher.
How can US companies prepare for GDPR compliance?
They can start by conducting a data audit, updating privacy policies, training staff on data protection, and implementing robust security measures.
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