From: Global Trade Magazine
Written by Peter Buxbaum
Companies That Do Business With Europeans Face Major New Requirements
Thousands of American companies that do business in Europe directly or online with European customers will need to start reckoning with data privacy regulations enacted this month by the European Union (EU), according to the International Association of Information Technology Asset Managers (IAITAM).
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“These are sweeping changes to how personal and corporate data is to be handled and they have far-reaching implications for many aspects of U.S. businesses, particularly in terms of how information security is addressed,” said IAITAM CEO Barbara Rembiesa. “The days are long past when U.S. businesses could worry only about complying with laws and rules in this country. Companies that fail to start planning now to deal with the General Data Protection Regulation (GDPR) requirements are going to be in for a real shock.”
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