Data privacy is constantly in the news these days, and for good reason.
We're all connected to social media outlets with regularity, and anytime you download an app, it needs to use and collect information from your mobile device. Right now, there's a shift taking place related to data privacy laws and awareness.
Below we'll dive into some news stories related to data privacy, how it is changing, and what these changes mean for companies and consumers alike.
1. Important Changes on the Horizon for Facebook
When it comes to data privacy, Facebook is the poster child, for better and for worse.
They've gotten a lot of press about people's feelings that the company hasn't had their best interests in mind when it comes to privacy. The company has been criticized throughout the past few years for being lax about privacy considerations, to the point that people's email addresses and phone numbers have been compromised.
Mark Zuckerberg, the company's CEO, said that Facebook will be taking a more diligent process toward looking after their users' data.
2. California Sets the Tone
The biggest story most recently as it pertains to privacy took place in California, since the state passed a law about consumers' data rights.
This law, known as the California Consumer Privacy Act (CCPA), was passed in 2018 and will go into effect in 2020. The act makes it so companies have to explain what kind of data is being used and in what way, and allows customers to opt-out of having their data collected.
The state of California has cleared up a lot of questions that people have related to how data will be handled. This law is so important because it creates a precedent, and will set the tone for many of the privacy laws that will follow it.
California is pushing to strengthen these laws in 2020 with measures that double down on these privacy policies. These proposed changes will add more laws as it pertains to the way that privacy and data are handled for your healthcare records and other sensitive issues.
3. The Google FTC Fine
In the fall of 2019, Google was hit with a whopping $170 million fine due to a violation in which they collect info from kids and used it to market to them.
This violation revolved around YouTube videos that use this data to show kids ads that they would want to see.
The fine was levied by the Federal Trade Commission and prompted the company to begin improving its privacy practices.
Meanwhile, Google also was hit with a fine of approximately $60 million in Europe due to failing to disclose how certain data was collected and used.
4. Various States Pass Laws Related to Privacy
When it comes to privacy laws, California isn't the only one getting in on the action. A number of other states are beginning to pass their own privacy laws.
States like Nevada, Mississippi, Maine, New York, and Minnesota have all introduced a variety of bills. These laws and bills have different stipulations about what businesses can do with your data, what kind of data they can collect and how they can disclose it.
It also gives you the opportunity to opt-out of any sort of data collection practice going on. If you live in any of these states, you will want to see what these bills and laws have in store.
The California law is setting the tone, as many states have copied parts word for word, or have applied the most important parts.
5. Malware Breaching Cryptocurrency Accounts
It's important that you consider the ramifications of privacy data as it pertains to cryptocurrency. Some of the biggest privacy breaches that have taken place over the course of the past few years dealt with cryptocurrency.
Some 25 percent of malware breaches and attempts are committed against banks and other financial institutions. Expect these privacy issues to become increasingly prevalent when it comes to crypto and the way that it's expanding.
6. Silicon Valley is Pushing For Federal Legislation
Right now in Silicon Valley, a lot of tech companies are concerned about California privacy laws, which is why they are pushing for federal legislation.
This happens to be a hotbed in technology, which happens to be the industry most affected by data privacy laws. As such, these companies are trying to push for legislation that will create privacy standards on a federal level, rather than just state by state.
7. Other Countries are Making Their Own Legislative Pushes
It is clear that data privacy is a global issue and not just a domestic one. Right now a lot of countries have this issue on their plate and are pushing to pass their own laws.
For instance, India is currently exploring privacy and how it fits into their society. The Indian Supreme Court, in 2017 deemed privacy a constitutional issue and one that is a matter of priority and importance.
Various countries in Asia and Europe are also taking the time to figure out what role data privacy will play as well.
Stay Up to Date With Data Privacy Issues
Data privacy is a hot-button issue right now, no matter what industry you're in.
These are a few of the biggest stories right now, and you should stay up to date to see how these issues will eventually affect the way we do business and communicate.
As you research, make sure to personalize these issues and figure out what data privacy strategies you can implement in your own company.
Touch base with us to get a demo on our privacy rights management services.