Europe has been struggling for stricter data breach laws for a long time. The recent data thefts have pushed the EU to make tough rules as regards data breaches and data security. This certainly is the need of the hour, not only in Europe but all over the world as data breaches are on the rise and hackers are taking advantage of the loopholes in the system.
The European Union is in the process of proposing new regulations regarding how companies use the personal information of Internet users this week. The new regulations are going to have a major impact on companies like Google and Facebook. This is going to put stricter limits on how they use the information of the people that use their services. According to Viciane Reading, vice president of the European Commission, a branch of the EU, these new regulations are absolutely required to protect personal data of the users and rebuild a sense of confidence in them.
What will the new rules exactly do?
The new rules will make it compulsory for financial services firms and credit card processors to report incidents of lost or stolen data within 24 hours of a breach. These rules are set to come into effect today. The companies must, as per new rules, appoint a data protection officer to preside over the protection of personal data stored and processed by individual businesses.
EU Justice Commissioner Viviane Reding’s comment
“I want to explicitly clarify that people shall have the right – and not only the ‘possibility’ – to withdraw their consent to the processing of the personal data they have given out themselves,” says Reding. “If an individual no longer wants his personal data to be processed or stored by a data controller, and if there is no legitimate reason for keeping it, the data should be removed from their system.” ”Companies that suffer a data leak must inform the data protection authorities and the individuals concerned, and they must do so without undue delay,” adds Reding. “As a general rule, without undue delay means for me ‘within 24 hours’.”








