The Washington Post article highlighted the importance of GDPR in that it “underscored the extent to which the European Union has emerged as the most powerful regulator of Silicon Valley, stepping in where Washington has failed — or simply been unwilling — to limit some of the United States’ most lucrative and politically influential companies.” The May 29, 2018 article entitled “Europe, not the U.S., is now the most powerful regulator of Silicon Valley” included these comments about GDPR which:
…gives users the right to demand the deletion of data and object to new forms of data collection while requiring that companies get explicit consent for how they collect, process and use data — practices that had been all but unfettered in the United States.
Potential violators could face fines of up to 4 percent of global profits [actually “Under GDPR organizations in breach of GDPR can be fined up to 4% of annual global turnover or €20 Million (whichever is greater)”].
The article also quoted Rohit Chopra (“the new Democratic commissioner at the Federal Trade Commission, which for years has been the federal government’s most aggressive privacy regulator”) who said:
Ironically, many Americans are going to find themselves protected from a foreign law…This is not something we are accustomed to.
Are you in compliance yet? Of course since GDPR only went into effect on Friday, May 25 we still do not know the full impact of GDPR on you or the world!