Which regulation is considered the strictest privacy law in the world?

The General Data Protection Regulation (GDPR) is regarded as the strictest privacy law in the world due to its comprehensive framework governing the collection, storage, and processing of personal data for European Union citizens and residents. Implemented on May 25, 2018, GDPR sets high standards for consent and transparency required for data collection and usage. It grants individuals substantial rights over their personal data, including the right to access their data, the right to rectify inaccuracies, and the right to erase information under specific circumstances, commonly referred to as the "right to be forgotten."

Additionally, GDPR imposes strict penalties for non-compliance, which can reach up to 4% of a company’s annual global revenue or €20 million, whichever is higher. This level of potential financial impact emphasizes the regulation's seriousness and authority. By mandating data protection by design and by default, GDPR enforces that privacy measures are integrated into the development of business processes and products, fostering a culture of data protection across organizations.

In contrast, while other regulations like HIPAA (Health Insurance Portability and Accountability Act) and HITECH (Health Information Technology for Economic and Clinical Health Act) focus on specific sectors, particularly healthcare in the United States, and COPPA (