DATA PRIVACY LAWS AND COMPLIANCE: A COMPARATIVE REVIEW OF THE EU GDPR AND USA REGULATIONS

Abstract

This Review provides an overview of the comparative review of data privacy laws and compliance, focusing on the European Union's General Data Protection Regulation (EU GDPR) and data protection regulations in the United States. The analysis explores key similarities and differences, emphasizing their implications for businesses and individuals. The EU GDPR, implemented in 2018, stands as a landmark regulation governing data protection and privacy for individuals within the European Union and the European Economic Area. In contrast, the United States lacks a comprehensive federal data privacy law. Instead, it relies on a patchwork of sector-specific laws and state regulations, such as the California Consumer Privacy Act (CCPA) and the Health Insurance Portability and Accountability Act (HIPAA).  One major distinction lies in the overarching principles of these regulations. The EU GDPR adopts a comprehensive and rights-based approach, emphasizing individual rights to privacy, data portability, and the "right to be forgotten." In contrast, the U.S. system often focuses on specific industries or types of data, leading to a more fragmented regulatory landscape. Both regulatory frameworks incorporate principles of transparency, consent, and data breach notification. However, differences in enforcement mechanisms and penalties exist. The EU GDPR imposes significant fines for non-compliance, reaching up to 4% of a company's global annual revenue. In the U.S., penalties vary by state, and enforcement is often reactive, triggered by data breaches. Businesses operating globally must navigate these distinct regulatory landscapes, necessitating a nuanced approach to data privacy compliance. Multinational corporations must adhere to the more stringent requirements when handling EU citizens' data while also considering the diverse regulations within the U.S. This review underscores the ongoing evolution of data privacy laws worldwide and the critical importance for organizations to stay abreast of these developments. It emphasizes the need for a proactive and adaptive approach to data privacy compliance, taking into account the unique requirements and expectations of both the EU GDPR and U.S. regulations. Keywords: Data Privacy, Laws, Compliance, EU GDPR, Regulations.