Severe fines for those not complying

The EU General Data Protection Regulation is the most significant piece of legislation for businesses since anti-money laundering legislation twenty years ago.

That's according to at least one compliance professional on the Island.

Billed as a reform which will provide tools for gaining control of one's personal data, GDPR is due to come into force in two years' time.

Isle of Man information Commissioner Ian McDonald says the regulation will apply to any business on the Island which provides goods or services to an EU resident or otherwise processes an EU resident's personal data.

And he says those not complying with the new regulations could face heavy fines: