To summarize, GDPR has a wide reach and is applicable to:
Organizations operating within the EU who are processing customer data
Organizations outside the EU that offer goods or services to individuals in the EU
Organizations with EU employees
The GDPR supersedes all previous national legislation relating to data privacy, even in the case of the UK, which confirmed its intention to abide by it. Despite the GDPR introducing a number of important features to the data privacy space, the most surprising aspect is the extraordinary financial penalties reserved for non-compliant businesses. At the top of the range, serious offenders can expect fines equivalent to 4% of their annual global revenue or €20 million, whichever sum is greater.