The headlines have been dominated by the recent news around Facebook, Cambridge Analytica and the misuse of customer data. The impact of these revelations has led to millions being wiped off Facebook’s share price and an ongoing investigation into the incident.
With just two months left until the General Data Protection Regulation (GDPR) comes into effect, this scandal could not be timelier. The ongoing discussions around Facebook’s use of customer data are a clear reminder that businesses still face a number of challenges when it comes to protecting customers’ data. Many businesses have grown weary of hearing about the major impact that GDPR will have on their operations – but this is no time to be complacent. Had the Facebook incident taken place after GDPR’s implementation on 25th May, the company would have been liable for a much more sizeable fine, up to 4% of its revenue.
Read what we can learn from Facebook’s misuse of user data according to Pankaj Gupta, Managing Director at Synechron, on Help Net Security.