The General Data Protection Regulation (GDPR) is a comprehensive privacy regulation enacted by the European Union (EU) in 2016. It replaces the 1995 Data Protection Directive and provides greater protection and rights to individuals with regard to their personal data. GDPR applies to any organization that processes personal data of EU residents, regardless of location, and imposes strict requirements for data protection, security and privacy. Organizations must obtain explicit consent for collecting, processing and storing personal data, and must take measures to ensure its confidentiality and security. Non-compliance with GDPR can result in substantial fines, up to 4% of the company's global revenue or €20 million, whichever is higher. The implementation of GDPR will require organizations to evaluate and update their privacy practices, including data protection policies, data breach procedures and privacy notices.
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