By Rohan Massey ( August 3, 2017, 2:36 PM EDT) -- For those outside the European Union and not currently covered by the current European data protection regime, it is worth reviewing the rationale behind a recent fine imposed by the United Kingdom Data Protection Authority as a penalty relating to data security failure, as it may impact your business from May 2018. As you read keep in mind three points: (1) from May 2018 the EU's General Data Protection Regulation will cover all entities, including those outside the EU, that are processing the personal data of EU citizens in relation to the sales of goods and services to them; (2) the GDPR requires notification of breaches to the local regulator; and (3) the maximum fines will increase from the current level of €500,000 to the higher of €20 million or 4 percent of an organization or group's annual revenue....