The FCPA Blog | By: Frances McLeod | GPE – September 07, 2017:
Companies are increasingly frustrated by privacy protection laws that vary from country to country. But the European Union’s new General Data Protection Regulation (GDPR), which becomes law on May 25, 2018, eliminates much of the confusion with a uniform code for all EU nations.
Originally published August 22, 2017: But with more severe restrictions and greater penalties for violations, the GDPR creates its own brand of frustration.
The eDiscovery required to get the information needed to respond to investigations is going to take on a great deal more complexity; fines for violating privacy regulations could run as high as four percent of an organization’s annual worldwide turnover or up to €20 million ($23.5 million).
While the United States has driven enforcement of anti-corruption and bribery laws since the 1998 expansion of the anti-bribery provisions of the Foreign Corrupt Practices Act, regulations on data privacy are far more restrictive overseas, increasing the challenges of transferring data for defending against allegations of corruption.
At least in part, history is at fault.
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