The European Union's ('EU') new General Data Protection
Regulation ('GDPR') came into effect on 25 May 2018.
Whilst Europe is over 14,000km from Australia's sandy shores,
its data protection laws are only a click away.
Is this relevant to my business?
If you are wondering why an EU regulation is causing such a fuss
in Australia, the first key thing to know about the GDPR is that it
applies to Australian organisations of any size that either;
- have an establishment or presence in the EU, or
- do not have a physical presence in the EU, but;
-
- offer goods and services to European-based individuals, or
- monitor the behaviour of European-based individuals.
Since a failure to comply with the terms of the GDPR may result
in fines of €20 million or 4% of annual turnover (whichever is
higher), it is critical that Australian organisations are prepared
and protected.
