If you were wondering what Europe’s new privacy law could do to big companies, here’s some insight. It seems Facebook and Google have both been hit with a series of lawsuits, which combine to almost $8.8 billion, and that’s just on the first day of GDP coming into force. Reports say that Facebook has been hit by €3.9 billion in lawsuits, while Google is facing €3.7 billion. The suits were filed by Max Schrems, who is an Austrian privacy activist and a long-term critic of companies collecting data.
General Data Protection Regulation or GDPR as it is commonly known as is a new law enforced by the EU, that determines how companies collect your data and what they do with it.
GDPR stands for General Data Protection Regulation, and it’s a new law enforced by the European Union, that determines how companies collect your data and what they do with it. Under GDPR, a clear consent from the user is required and the company also has to justify why it has to collect personal data. This has led companies to change their privacy policies to meet the guidelines in the law.
Google and Facebook had both rolled out new policies that are GDPR compliant, but it seems there may have been loopholes. Schrems has argued that the two companies haven’t done enough with their policies still. He told Financial Times that the consent systems were non-compliant with GDPR.
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