- Friday, May 25, 2018 10:56 AM
Brussels, 25 May 2018 – New European privacy regulations that go into effect on Friday will force companies to be more attentive to how they handle customer data while bringing consumers both new ways to control their data and tougher enforcement of existing privacy rights, Reuters reports.
The European Union General Data Protection Regulation (GDPR) replaces the bloc’s patchwork of rules dating back to 1995 and heralds an era where breaking privacy laws can fetch fines of up to 4 percent of global revenue or EUR 20 million, whichever is higher, as opposed to a few hundred thousand euros.
Many privacy advocates around the world have hailed the new law as a model for personal data protection in the internet era and called on other countries to follow the European model.
The GDPR clarifies and strengthens existing individual privacy rights, such as the right to have one’s data erased and the right to ask a company for a copy of one’s data, according to Reuters.
But it also includes entirely new mandates, such as the right to transfer one’s data from one service provider to another and the right to restrict companies from using personal data. mr/10:56
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