The General Data Protection Regulation (GDPR) is the European privacy and security law with the goal of safeguarding and protecting the personal data privacy of EU residents. It was approved by the European Union (EU) and put into effect on May 25th, 2018. GDPR imposes Data privacy & security obligations on Organizations that process the personal data of EU residents. The GDPR has cross-border enforcement with harsh penalties that can reach up to 4% of a company’s annual revenues. Companies that have failed to comply with the GDPR have paid fines of millions of euros.