Sunday, 24 June, 2018

What's The Deal With GDPR And Your Online Privacy?

Facebook and Google at top of GDPR complaints list Lenders ready for EU data rule: Koo
Beatrice Douglas | 28 May, 2018, 11:49

As per the new data privacy law of Europe, the companies can process online information if and only if there is a valid reason to valid basis to do so.

Many worry that the stringent data protection law may hamper big data research.

The authority also announced the closure of its electronic portal for requesting authorisation for data processing. Businesses that collapse foul of GDPR can be, in unsafe cases, charged more than seventeen million euros.

The regulator will continue under the same leadership until the parliament nominates new members.

"That includes creating an environment in which everyone can easily do business and know their data is safeguarded", Dennedy told IANS, adding that they are committed to help customers and partners by protecting and respecting personal data, no matter where it is from or where it flows. But, unlike Y2K (for those of you old enough to remember the near-hysteria), 25 May 2018 is only the beginning of the GDPR compliance road and not a "completion date".

Vice said that the GDPR will have a significant impact on tech companies because they have relied so heavily on algorithms to provide bespoke experiences for users so that they will stay on sites longer and click on personalized ads or buy more products.


What do you think of the GDPR?

For those who use the internet in the European Union, they now will be armed with this new information and have the power to take back control over what companies do with it.

So far, this has mainly manifested in organisations refreshing their privacy policies and mailing lists, but in future it will require company-wide data management and reporting, and a much greater accountability to customers over how data is kept and used.

European privacy regulators signalled that they were ready to flex their muscles but were not "sanctioning machines". There are those who are leaning towards the latter since the GDPR and blockchain do share a common goal as the legislation aims to strengthen the rights of individuals in the digital realm and give them more control over their information. If you want to opt out of sharing your data with advertisers, you can.

Facebook has been put under increased control over how it uses the data of users after the scandal with Cambridge Analytica. This only indicates that GDPR compliance is a good opportunity - not just for multinational enterprises but smaller organizations as well - to keep up with global advances in data privacy and state-of-the-art security. Included in the kinds of personal data covered are a person's name and government ID numbers. The shutdowns came as a surprise to readers of the publications, because companies had two years to prepare for the new regulations. Notably, Tronc, which owns the Los Angeles Times, the Chicago Tribune and other large media properties, shuttered its websites in the EU.

Companies can be fined up to 20 million euros (US$24 million) or 4% of annual global turnover for breaching the strict new data rules for the European Union, a market of 500 million people.

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