GDPR’s One-Year Anniversary (And Scorecard)

GDPR’s One-Year Anniversary (And Scorecard)

One year on, what has the General Data Protection Regulation (GDPR) wrought? The EU law has sought to let citizens decide how their data is used, and when, and by whom. The regulation, which debuted in May of last year, means firms that process data must disclose how it is processed and how long it is kept. As noted in the June PSD2 Tracker, there have been some financial repercussions for companies that do not comply.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Data:

    $62.6 million: USD value of fines levied in the year since the GDPR went into effect.

    200,000: Number of investigations into breaches since GDPR went into effect.

    96 percent: Share of banks still reliant on legacy methods for customer authentication.

    $3.1 trillion: Estimated value of money owed in accounts receivable for U.S. firms on any given day.

    Advertisement: Scroll to Continue

    24 percent: Fundbox’s estimated share of monthly revenue tied up in outstanding invoices.