The Financial Times | November 19, 2017:
The world’s biggest companies will spend tens of millions of dollars to meet new EU data protection laws by next May’s deadline, according to a survey that shows the costs of meeting some of the world’s toughest privacy rules.
Members of the Fortune 500 will spend a combined $7.8bn to avoid falling foul of Brussels’ General Data Protection Regulation (GDPR), according to estimates compiled by the International Association of Privacy Professionals (IAPP) and EY. This equates to an average spend of almost $16m each.
Any business that processes the personal information of European citizens will have to comply with the GDPR.
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