Majority of CEOs may severely underestimate the consequences of GDPR non-compliance, and more worrisome are unaware of what had to be done or had been done by their staff to implement compliance measures.
Data Protection
Certain types of personal data are very valuable to criminals, and can be very damaging to an individual or business if it falls into the wrong hands. As the world becomes more digital and more connected, more of this sort of data is generated and passed between various sources on a regular basis.
Government regulations and supervisory authorities aren’t just about keeping irresponsible parties in line. They also provide vital security guidance to every type of organization that handles sensitive personal, business or government information.
Data protection regulations also ensure that the end user has a transparent view of and a say in the processing of personal data. These safeguards play a significant role in everything from the preservation of civil rights to ensuring that democratic institutions function properly.
Some types of personal data are clear candidates for regulation: medical records, banking information, national ID numbers and so on. But some of these regulations also cover items that might seem relatively innocuous at first glance: home addresses, email addresses, website profile information and so on. For example, the European Union General Data Protection Regulation (GDPR) has stipulations about anything that is unique to an individual to include phone numbers and social media accounts. People have varying levels of privacy preference with these items, but they are often protected by regulation because they can be used for targeted scams and attempts at identity theft.
Given that regulations often take the size and customer count of businesses into consideration in terms of penalties and the scope of protection of personal data, compliance is particularly important for enterprise-scale organizations. You do not necessarily have to have an active business presence in a country or region; simply storing data on or moving it through servers there may subject you to their data protection rules.
Many companies are still using stopgap measures to stay in compliance with GDPR. They need to increase level of automation and streamline organization to remain sustainable.
Privacy regulators have said they will take seriously anything that puts the twin principles of openness and honesty into jeopardy, and with the GDPR honeymoon period set to end, trust and reputation will be central going forward.
A decision has found GDPR violations in the TCF consent management systems widely used by ad networks, ruling that the process is not adequately transparent to data subjects and does not inform them or secure their data properly.
IoT regulations without real penalties will let manufacturers and service providers continue their focus on ease of use at the expense of security and privacy best practices.
The noyb privacy complaint notes that Pinterest has invoked the "legitimate interest" exception to user consent for ad tracking, one of a small handful of such exceptions provided for by the GDPR. The problem for the company is that Meta has already tried this tack and failed.
Faced with a deluge of complaints regarding violations in terms of general data protection, regulators are expected to levy the first GDPR fines and other sanctions by year end.
When the California Privacy Rights Act (CPRA) takes effect and replaces the California Consumer Privacy Act (CCPA) on January 1, 2023, businesses will have new privacy obligations with respect to personal information of employees, applicants for employment, independent contractors, owners, directors, officers, and their beneficiaries and emergency contacts who are California residents.
New York is the next state following California to develop its own New York Privacy Act which even though largely similar to CCPA, will still include notable exceptions that companies should be cautious of.
The FTC’s new COPPA amendments would bolster children's privacy by further restricting how companies can collect, use and monetize the data of underage users, shifting a greater deal of responsibility for privacy online to service providers.









