Facebook, Cambridge Analytica and GDPR
The General Data Protection Regulations, or GDPR, is once again the hot topic of the day after Facebook was asked to explain how data collected on 50million users was exploited for political gain, following claims that data firm Cambridge Analytica used the leaked information to help Donald Trump win the US presidency.
In the past hour Facebook CEO, Mark Zuckerburg, pledged to introduce changes that would make it harder for third-party apps to “harvest” users’ information. He said that a “breach of trust” had occurred between Cambridge Analytica and Facebook and that there was also a breach of trust “between Facebook and the people who share their data with us”. http://www.bbc.co.uk/news/world-us-canada-43494337
This is a prime example of the sort of practice that the GDPR is designed to prevent. Had this occurred after 25th May 2018 (the date upon which GDPR is to come into force) it is likely that Facebook and Cambridge Analytica would have faced significant fines; the maximum fines under GDPR are €20m or 4% of annual global revenue, whichever is the greater.
GDPR is not simply a matter of concern for larger organisations such as Facebook. All businesses are liable under the new Regulations and should be reviewing their data protection policies to ensure that they are compliant with GDPR by 25th May 2018.
If you require advice on GDPR, please contact one of our specialist team today for a free consultation.