Industry & Business

Social media giants face huge fines if they break new EU data protection rules

 Breaking News
  • Huckletree Announces European FinTech Hub in Dublin 4 Huckletree, the pan-European co-working space operator and accelerator, has announced it will open Ireland’s first fintech co-working hub in Dublin, establishing a European Fintech Hub similar to Barclays RISE, Level39 London and Lhoft Luxembourg. Located in The Oval, Ballsbridge, Dublin 4, the ambition for the fully equipped 23,500 sq ft space is to be a leading [...]...
  • Rye River Brewing Company Crowned the World’s Most Decorated Independent Craft Brewery Irish craft beer brewery, Rye River Brewing Company, has been crowned the world’s most decorated independent craft brewery at the World Beer Awards 2019. Rye River Brewing Company has achieved critical acclaim on the world stage, winning an unprecedented 21 World Beer Awards in 2019, officially making it the “World’s most decorated independent craft brewery”. The Celbridge-based brewery [...]...
  • Health Plan Technology Company Chooses Northern Ireland For New Software Engineering Centre American company HighRoads has announced that it is establishing a product development Centre of Excellence in Belfast to support its rapid growth, and the company plans to recruit at least 20 professionals over the next three years. This team will bring together experts in engineering, product management, and engineering operations to support the creation and expansion [...]...
  • InvoiceFair to Co-Host Seminar on Working Capital Funding For SME Growth in Shannon InvoiceFair, which provides SMEs with alternative working capital funding options through its marketplace platform, is co-hosting a finance seminar for SMEs in Shannon, County Clare. The seminar, co-hosted with Shannon Chamber and Grant Thornton, is designed for companies that need to fund purchase orders, contracts, statement of works, or for companies that need to be [...]...
  • Voxbit Disrupting Telecoms Sector With Innovative Technology Belfast company Voxbit has won business in Great Britain worth more than £3.5 million for its innovative new internet-based business phone platform, byphone, less than 18 months after launching. The firm is challenging global players in the communications market with its Voice over Internet Protocol (VoIP) platform, which was developed with research and development support [...]...

Social media giants face huge fines if they break new EU data protection rules

Social media giants face huge fines if they break new EU data protection rules
December 18
11:09 2015

Social media giants like Facebook and Instagram face serious fines if they break new EU data protection rules.

The draft laws are designed to give citizens control over their private data, while also creating clarity and legal certainty for businesses to spur competition in the digital market.

Internet companies like Facebook, Snapchat and Instagram could face huge fines if they don’t adhere to the data protection laws once they come into force.

Fine Gael MEP Deirdre Clune has said violations of privacy laws could be costly: “Strict fines have been decided on now if they have violate the privacy laws they could be subject to 4% of their global revenues.

“The Parliament was intent on having such high levels of fines in place because it is serious, the privacy of individuals is important and their personal information needs to be protected.”

The EU Data Reform, originally tabled in 2012, contains a raft of data protection measures aimed at protecting Europeans in the digital age.

The Reform consists of two instruments: the General Data Protection Regulation, which will enable people to better control their personal data and make new rules surrounding businesses’ uses of data; and the Data Protection Directive for the police and criminal justice sector, which aims to ensure that the data of victims, witnesses, and suspects of crimes, is duly protected, and also allows for more cross-border cooperation.

About Author



Related Articles

New Subscriber

Subscribe Here


National Manufacturing Conference & Exhibition 2018

NIBRT Springboard Success Stories

Upcoming Events

  • No upcoming events
AEC v1.0.4