The Pandora’s Box of Privacy
Some big moves are afoot in the privacy sphere. The European Court of Justice found in favor of a student who challenged Facebook’s right to transmit his data to the U.S., invalidating a deal that has long allowed transatlantic data sharing. The decision comes ahead of a comprehensive data privacy law due out soon that will regulate data privacy for the 28 EU nations. It may lead to the creation of data protection officers or other jobs to ensure compliance. Violation of the General Data Protection Regulation (GDPR) could carry fines of up to five percent of a company’s global revenue.
In California, the Electronic Communications Privacy Act was signed into law this month. It’s one of the first laws in the nation that requires police get a warrant before searching somebody’s electronic data. How companies store and protect customer data could increasingly be a part of how companies make or lose money in the future, and there’s a lot at stake: Last week we saw how some of the biggest tech companies in the world relied on data storage to boost market cap.
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