European companies gear up for new data privacy rules from CNBC.
The General Data Protection Regulation (GDPR) will come into force on May 25.
It will affect companies located in the European Union but also those that have operations and customers there too.
The key principle of GDPR is giving consumers control of their data.
There are fines of up to 4 percent of total global turnover if rules in the GDPR are breached.
with thanks to cnbc.com