In 1999, Scott McNealy, then the CEO of Sun Microsystems, wasfamously quoted dismissing Internet security as hopeless. “You havezero privacy anyway,” he said. “Get over it.” It was a provocativenotion, but let's just say the European Union's regulators don'tthink that way.

The EU's new cybersecurity rules—the General Data ProtectionRegulation (GDPR)—willbe enforced starting on May 25 of this year. The GDPR applies toany organization that does business in the European Union, not justcompanies based in EU countries, and organizations that don't meetits requirements could conceivably face fines equal to 20 millioneuros or 4 percent of their global annual revenue.

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