Cross-border data transfer
The European Union’s new General Data Protection Regulation will go into force May 25, after six years of preparation. It replaces the Data Protection Directive 95/46/ EC and was designed to harmonize data privacy laws across Europe, protecting and empowering all EU citizens.
The rules will apply to all companies that collect the personal information of individuals in the EU, whether the business is based in the European Union or not, and the fines for noncompliance will be extremely onerous.
Source: Countdown to GDPR: Part 3 — Cross-border data transfer
