Tech Companies Face a Huge Danger ahead of The New European Law

After the news of privacy leak through Facebook, people have been worrying about their sensitive data being leaked to third-party companies which might use them in an inappropriate way. Every person might be thinking about what data Google and Facebook hold about them and they can be misused if they are leaked or hacked by a third party company (considering these two companies as they are the most used by people on a daily basis). When you see ads on the different website with things which are related to your thoughts, one question will definitely come to your mind as to how they track your thoughts down.

BASIS OF THE EUROPEAN LAW 

But, on 25th May, everything is going to be changed as the New European’s Privacy Law will be imposed on all the companies in the world who either has European employees or deals¬†within Europe. The General Data Protection Regulation (GDPR) focuses solely on the user’s understanding their privacy, the data which are taken about them from the company and how it is handled. So, the balance is going to shift towards consumers who will know about the data which the company hold about them and prevent any misuse of it.

HOW THE GDPR LAW WORKS

Under the GDPR Law, all the company has to mention about the collection of data which includes their name, home address, MAC address, location and which application or website it tracks while running in the background. All these are to be stated explicitly which are clearly visible to the consumers rather than hiding them in any Terms And Conditions page. In addition to this, the company has to mention why they are collecting these data and whether they will be used to maintain the user’s profile or be used in some other way. Every consumer will be given the right to know what data are stored in the company about them and modify any inaccurate data about them and limit the use of these data.

CONSEQUENCES THE LAW WILL HOLD

GDPR Law will be affecting each of the 28 member countries of the EU and the other companies indirectly related to these countries which include most of the Fortunes Top 500 companies and all the other tech companies across the world. On the Social Networking sites, if a user wants to delete a photo posted by them then the company should inform all the search engines that the use of these photos should be removed. For example, a cab booking company like Ola or Uber can obtain information about their name, address, credit/debit card information but they can’t ask the person about their race as the Law forbids the companies to obtain sensitive data such as their religion, race, sexual preference, political favor etc.

In short, GDPR states that the user must be totally mentioned about their data instead of simply accepting to the long page of Terms and Conditions about their privacy. In a paper, “Corporate Surveillance of Everyday Life” by Wolfie Christl shows how personal data are used to influence the products which you use. Banking and Shopping companies use these data to analyze the potential users from the worthless people on their websites.

GDPR LAW CAN BE A THREAD TO TECH COMPANIES

If a company end up breaking the law, they may be charged as high as four percent of their annual income (For Facebook, it will be around $4.4 billion). Paul Olivier Dehaye, a mathematician has used the EU Law to know about the data Cambridge Analytica hold of 50 million users. As the new law might be the most beneficial for the consumers, the companies are affected as they have to spend a lot of time improving the security of data the company hold about their clients. If there happens a breach in the data stored within the servers, the companies will be fined heavily according to the new GDPR Law.

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