“Cling Cling…” Mailbox Alert:
Sub: “We have updated our Privacy Policy” or “Updates to our Privacy Policy”
Seems familiar?
Confusing right? Well, you have come to the right page now!
I was in the same spot as you when I got this alert and I did the same thing… IGNORED IT!
Such emails from various social service providers like Gmail Facebook, Linked in, Pinterest, Instagram, Quora and many more with the above titles in the past days is something important we need to know about. – It is not an email clogger.
When the first mail came in I just ignored it thinking it would be a one of instance of one service provider, but later on when more mails started popping up I clicked to see what they actually meant. One term kept popping up EU & GDPR (European Union & General Data Protection Regulation). It also mentioned that the policies will go into effect from May 25, 2018
Let me run you through GDPR in a glance and what started it.
What is GDPR?
GDPR is in making for last 7 years and finally comes into effect from May 25, 2018. With all the data leakages from Facebook & Cambridge Analytica, the regulation was fast tracked to make sure it was implemented quickly. GDPR aims to significantly strengthen lot of rights of individuals. Individuals can demand companies to delete their personal information or ask for their personal data which the companies are holding.
Fines ranging up to €20 MN or 4% of company turnover whichever is greater can be imposed.
Who is covered?
GDPR will affect every company who has direct relationship with European customers but the companies which work only on consumer data will be affected most. Technology firms, marketers and the data brokers who connect to them.
Let’s take an example, if your social service provider decides to use the personal data collected for some other purpose than what the earlier intent, they have to get your permission again. Companies now will show all the data they have taken from customers and will give them access to what they want to delete. Facebook has already implemented that feature in its privacy policies.
What’s in it for me?
We have the power to hold companies accountable than never before. Now think what would happen if users start deleting their information with companies, it will have a catastrophic effect on the data industry.
Will GDPR work?
Yes, eventually. Companies will find ways to bend some rules but in the long run it will serve as a deterrent against breach of trust and security of data. It will definitely make the data collection and storage safer than what it is now.
Is GDPR only for EU?
Yes, for now. But more countries will be jumping into fray quickly. Companies are being proactive and think it’s much easier to implement GDPR globally.
Regards,
San
(CEO, ShadowSecuritronics)
Please write to me-ceo@shadowsecuritronics.com
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