GDPR Poses $500 Billion Threat to U.S. Businesses, CompliancePoint Estimates
The EU General Data Protection Regulation poses a $500 billion threat to noncompliant U.S. businesses, CompliancePoint said Tuesday. There are more than 27.9 million small businesses registered with the U.S. Census Bureau and International Trade Administration, and 98 percent of…
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businesses export goods internationally, according to the U.S. Small Business Administration. Under the GDPR, companies face noncompliance fines up to $20 million per infraction, or 4 percent of global revenue, whichever is more.