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While this is out of the EU, it effects any business regardless of geographic location, as long as you do business with people based in the EU, and given the global nature of online and tech businesses this could mean big changes for almost every business. 

If your company provides goods and services, or data collection and monitoring of EU residence it now must be in compliance with these new regulations. Failure to comply can mean big dollars in fines up to 4% of your companies total global revenue, or as high as 20 million euros, which ever one is larger for serious violators of the law, which includes infractions such as, proper opt-in consent, responsible data transfer outside of the EU, cyber breach notifications.

Are you prepared for new GDPR laws? Here are 5 Ways to Do So