The GDPR will still apply to UK companies if they want to do business within the EU. Experts are currently concerned after a number of companies in the UK have announced that they will not be affected by the new regulations because the UK is leaving the EU. Many believe that the regulations will only apply to companies based in the EU, but the new regulations have been designed to protect EU consumers.
Even if a UK company only deals within one customer within the EU, they will be bound to handle data according to the GDPR regulations. Any deviations from the regulations will mean that there could be fines and other sanctions to face.
Experts have also pointed out that there is a “potential grey area” within the new regulations for UK companies who work or deal with EU citizens that live and work in the UK. The information commissioner has suggested that there should be new regulations developed for the UK that would be similar to the GDPR.
The same experts are warning that UK companies ignore the new regulations at their peril, and companies that believe Brexit is allowing them to sidestep a landmine need to think again. The regulations have the potential to protect companies from data breaches, which could be devastating for the future of a business.