What is the impact of data privacy regulations on international businesses? 🔊
Data privacy regulations like the GDPR have significant impacts on international businesses. They enforce strict guidelines around data collection, processing, and storage, compelling companies to ensure compliance or face hefty fines. This can lead to increased operational costs and necessitate changes in data handling practices. Moreover, businesses must navigate diverse regulations across borders, which can complicate cross-border data transfers. However, these regulations also foster greater consumer trust, offering a competitive edge.
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