A data leak at Lloyds Banking Group stemming from an IT glitch exposed the personal information of nearly half a million customers, enabling them to see each other’s transactions.
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.
Recent PwC survey results indicate that half of respondents were not confident that their organizations would meet the 2020 deadline for CCPA compliance. What are the lessons learnt from the GDPR compliance exercise that can help companies approach CCPA and other upcoming requlations?
Disney has settled accusations of violating federal children’s privacy rules preventing the collection of personal data of internet users under the age of 13, and the outcome builds on the terms of a prior 2019 FTC settlement involving Google that set new requirements for parental consent on YouTube.
Instead of introducing an entirely new regime, the UK Government should explore the use of privacy enhancing technology to enable organisations to share and analyse personal data in a privacy-preserving manner, to create opportunities and unlock the power of data using innovative and trustworthy applications.
The Luxembourg CNPD has issued Amazon the largest GDPR fine to date, hitting the online shopping giant with a penalty of €746 million (about $887 million) over its targeted advertising practices.
Anyone operating a business that violates the privacy rights of people in Quebec or fails to meet Quebec's stringent new requirements for protecting personal information may face administrative monetary penalties, fines, binding orders, and civil action.
Grokbot reportedly collected posts from European users for its AI training from May 7 to August 1 this year. This was done without any notification of users or collection of consent, creating a potential violation of EU data protection law.
Less than 100 days to go, and so far only two European countries have adapted their laws to be ready for GDPR. While the GDPR aims to harmonize rules across the European Union and to benefit companies to deal with just one law, many member states are eyeing possible exemptions as they change their national laws.
51 top CEOs from companies such as Amazon, IBM, Dell and JP Morgan Chase are pushing for new federal privacy legislation to establish a stable privacy policy environment.
By 2024, it’s likely that almost every U.S. state will have its own data privacy regulations. Businesses getting prepared now are barely ahead of the curve; those that put it off till the laws hit the market will have to scramble to keep up.










