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The new GDPR (General Data Protection Regulation) is only weeks away and it’s estimated that only 21% of U.S. businesses have a plan in place. That means 79% of U.S. businesses haven’t figured out how they will report breaches in a timely fashion, provide customers the right to be forgotten, conduct privacy impact assessments (PIAs) and more. If you are one of those businesses that haven’t put a plan in place because you don’t think the new regulations apply to you in the U.S., you’re wrong.

As the new regulation states, any company processing, storing or using data related to an EU citizen will be subject to citations and accompanying fines for noncompliance — even if it’s just one customer. That’s right, there is nowhere to hide. If your organization manages data that involves even one EU citizen and you don’t properly comply with the new GDPR, you can face fines up to 4% of your global revenue (up to £20 million).

For the full article, please visit the Forbes site here.