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The European Union’s General Data Protection Regulation(GDPR) is new legislation that is designed to protect the data of EU citizens.  GDPR implementation affects every single organization and business that interacts with an EU resident, regardless of where they may be. If you’re a company in the India that deals with EU residents, then the GDPR will apply to you and you’ll need to follow the  GDPR compliance requirements.

Why Are GDPR Compliance Requirements Such a Big Deal ?

GDPR implementation began on May 25th, 2018 with the objective of placing more control and assurance in the purchaser’s hands. Information security has become an enormous concern of late and the manner in which brands ensure their clients is presently going to be at the center of attention due to GDPR implementation. The thought is to altogether upgrade the degree of assurance offered to EU residents and their information. It is based on the 1995 Directive’s prerequisites, yet the new GDPR consistence necessities will be stricter and have harsher disciplines for anybody that abuses it.

What Are Consequences of Failing to Follow the GDPR Compliance Requirements ?

On the one hand, the damage for companies will be monetary. Companies that fail to follow GDPR compliance requirements may be fined up to €20 million, or up to 4% of the annual worldwide turnover of the preceding financial year, depending on which one is greater.

Fines concern both large and small-medium companies: in a first  preliminary report, the European Data Protection Board has reported that the average GDPR fine has been around 66,000 euro, excluding the 50 million euro fine received by Google from the French data protection agency.

On the other hand,failing to conform to GDPR necessities will affect a brand’s picture. Your association may have a discolored notoriety and numerous buyers will lose confidence in both your items or administrations.

In short,failing to follow the GDPR compliance requirements will force your business into a problematic situation and ultimately damage your organization.The punishments are intentionally harsh to ensure that all organizations follow a GDPR implementation strategy.