For large companies, regulatory violations can result in fines of up to 4% of the company’s entire worldwide revenue or 20 million euros, whichever is greater. Small companies, while they get some relief, are still fined.
“This is creating … consternation that some of the U.S. multinational [companies] are now realizing that they are exposed and don’t want to be facing these fines,” said Gary Southwell, general manager of Ethernet products at CSPi, a network and IT security company based in Lowell, Mass.
In addition to its EU clients, CSPi is working on GDPR compliance with several U.S. companies that have presences in the EU, Southwell said.
Click here to read the full article by Spencer Smith and John Moore at SearchITChannel.