On May 25th, the European Union introduced General Data Protection Regulation – a new tool which was designed to increase levels of data protection and privacy of individual users with EU and EEA. The regulation is binding for all subject offering internet-based services to users located within given territory. However, the first five months of service showed, that GDPR has also unwelcome consequences.
Soon after its implementation, GDPR showed its implications in various fields. During the following months, several of the leading online platforms (Amazon, Facebook and Twitter) have been already investigated regarding to data breaches and face fines up to 4% on global annual turnover.
Maximal size of fines was intended to motivate companies to take data privacy as a high priority topic, however, once attacked, the possible financial implications act in hackers favour. According to Europol, companies facing high fines may be more willing to settle with hackers not to disclose the stolen information. Consequently, this motives hackers to conduct more attacks on other companies.
Connection to our projects
A global IT services company worked with Frenus for creating content that is tailored to their potential users as well as providing sales support regarding lead generation in compliance with the GDPR which helps to delve deeper into the needs of their prospects and customers.