In a month from now, the most powerful data privacy regulation laws will come into effect.
The introduction of the latest General Data Protection Regulation in European Union from May 25, 2018, will provide the regulating authorities enhanced power to charge heavy fines to the firms that do not properly manage the data. The regulation will also provide the users enhanced powers to use and restrict their data.
The new regulation also enhances the outreach of the regulating authorities to all the firms that are managing the data of European Union customers, irrespective of the location of the company itself.
The regulations also require the firms to report the possible data breach that may affect the rights or freedom of users within 72 hours of getting the knowledge of the same. This, in turn, means that organizations like Apple, Facebook and Google will face greater responsibilities.
The penalties for not obeying the new regulation have been made significantly big, up to 4% of the international turnover per annum or €20 million, whichever is higher.
The European Union has stated that these new laws are a way for making sure the privacy of people in a world that is becoming more and more based on data.
Facebook and Twitter, along with many other organizations, have started the process of making changes to their privacy policies in order to conform with the new regulations and to make it simpler for the users to understand how their data is utilized.
One important feature of the new regulations is the right to be forgotten under which the users can make the entity in control of data erase all the data on withdrawal of permission.
The changes have to be brought about because of these new laws and their subsequent effect on the Internet and the world remains to be seen.