What is GDPR and why do I need it?
GDPR stands for General Data Protection Regulation, in German DSGVO (= Datenschutz-Grundverordnung) and has been the legal framework of the EU since 25 May 2018 which determines the handling of personal data.
The Regulation aims to provide clear guidance on how these personal data may be collected and processed.
Since the Regulation is binding, everyone is obliged to comply with the DSGVO. The objectives are to respect the fundamental rights and freedoms of natural persons and, in particular, to safeguard their right to protection of personal data.
Failure to comply with this binding regulation could result in heavy fines. The maximum fine is up to 4% of the annual turnover, with a maximum of 20 million euros.