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Amazon’s Record-Setting Privacy Fine: What You Need to Know

Last month Amazon was hit with the highest personal data fine to date. A whopping $886.6 million (746 million euros) fine was levied against the corporation by the European Union fine for processing personal data in violation of the bloc's GDPR rules. This action foreshadows a privacy climate in which enforcement will be the norm, trending away from the spotty enforcement of the past.

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What if the GDPR does not apply to me?

If the GDPR does not apply to your company, you can still benefit from implementing a solution for transparency, notice and consent around consumer data handling. A best practices privacy rights management system provides other advantages. For one, it gives you an opportunity to build a competitive advantage as an organization that deserves consumer trust. As another, it puts you a step ahead if (more likely, when) regulations are enacted that do apply to you.

 

Data Privacy and Trust Are Universal

A company’s willingness to take these extra steps will build trust with their consumer base and set them apart from the competition that may be taking a wait-and-see approach. Complying out of duress will be a potential detriment for businesses trying to build a relationship of trust with customers.

 

Privacy Laws Are Changing Everywhere

The GDPR is currently the most wide-ranging privacy regulation put into practice to date, but it will not be the last. Already, legislation resembling GDPR is being introduced and adopted in Canada, Japan, Australia, and South Korea.  Similar legislation is also being introduced in the U.S. at both the state and federal levels. It is only a matter of time before the demands of privacy expand beyond the limits of the EU, and for companies that have already developed the operational and technical infrastructure, those changes will be much easier to accommodate.

Truyo
About Truyo
Powered by IntelⓇ, Truyo is the automated answer for enterprises seeking to deploy truly integrated SAR, consent, and other data privacy rights processing capabilities that scale with your needs, deliver conspicuous compliance, and adapt to new privacy regulations as they emerge.
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