New EU data protection rules could mean massive fines for businesses

By Josh Bradford on April 28, 2016

EU-flag200x200On April 14 after four years of deliberation, the General Data Protection Regulation (GDPR) won final approval requiring businesses who deal with personal data of EU citizens, both in and outside of the EU, to strengthen their cybersecurity policies or face substantial fines.

  “The new rules will ensure that the fundamental right to personal data protections is guaranteed for all,” said a statement released by the European Commission.

 The regulation updates and replaces the 1995 Data Protection Directive. It will provide citizens with a consistent level of data protection across the EU.

 “The general data protection regulation makes a high, uniform level of data protection throughout the EU a reality,” said Jan Philipp Albrecht (Greens, DE), who steered the legislation through Parliament.

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Josh is an Editor at Advisen in the Research & Editorial division. He is the lead editor responsible for several of Advisen’s Front Page News editions and he also originates custom research on behalf of Advisen’s largest insurance company clients. Contact Josh at [email protected].