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New centralised EU rules on data protection - fines up to EUR 100 million

  • 05-01-2016 07:57AM
    #1
    Impetus
    Registered Users, Registered Users 2 Posts: 1,667 ✭✭✭


    'For years, the parties have negotiated. Now the European Union has agreed on a new data protection law. The new rules apply from 2018 uniformly throughout Europe. The current patchwork of national rules will be replaced by a single EU data protection basic Regulation. Error Notice can then have fatal consequences. It threatens fines of up to 100 million EUR or up to four percent of annual sales - whichever amount is higher.'

    Fined based on this thinking puts a big burden on low margin high total revenue companies such as Amazon. They are far less material to high margin, low revenue businesses such as banks - who have a lot of 'stolen' personal information about most people. And they leave government agencies almost exempt from punishment - because they don't have sales and 100 mil is nothing to a government.

    More in FAZ: http://www.faz.net/aktuell/beruf-chance/mein-urteil-was-haben-die-neuen-eu-datenschutzregeln-mit-mir-zu-tun-13980878.html


Comments

  • #2
    DipStick McSwindler
    Closed Accounts Posts: 1,460 ✭✭✭DipStick McSwindler


    This post has been deleted.


  • #3
    Impetus
    Registered Users, Registered Users 2 Posts: 1,667 ✭✭✭Impetus


    IrishFeeney92 wrote: »
    Well thats just not true.

    Which aspect is not true?

    Compliance scares me, because it takes the focus off doing the job properly and moves it to observing checklists, which are distillations of legal and regulatory and other requirements. Bureaucracy. The compliance approach has slowed down air travel, been a large contributor to the global business recession. Everything takes so much longer and is much more bureaucratic. In the air travel sector, one reads that some 90% of prohibited weapon type stuff gets through checks. Meanwhile thousands of Euros worth of bottled water get thrown down the drain at airports operating to the EU/US dogmatic police state standards.

    Much of the infrastructure in use in business and government is based on old concepts and software, using an internet front end which was bolted on when the organisation decided to go online.

    It will mean a large investment in new software, written from the ground up, which will have to be tested and tested, review of internal and security controls, etc etc.

    As well as increased insurance premiums and coverage levels. Assuming they can get it.

    Which is going to cost the end user, at the end of the day. ie the customer.


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