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Different GDPR business side effects

Different GDPR business side effects

Unless you’ve been under a rock for the last 12 months; you’ve probably heard about the new laws that the European Union have slated to come into enforcement on 25th May, 2018. That’s right; we’re talking about the General Data Protection Regulation (GDPR for short). However; we’re not going to give the usual spiel about what businesses must do to meet GDPR compliance. No; we’re going to look at a few of the GDPR business side effects which may occur that were probably not in the original plan.

GDPR business side effects

Is GDPR going to become an extortion tool for hackers?

Let’s back up a little to give context. There are two tiers of fine levels when it comes to GDPR breaches:

  1. The higher amount of €10 million or 2% of annual global turnover of the previous year.

  2. The higher amount of €20 million or 4% of annual global turnover of the previous year.

Now that we know this background information – we can now start to see how the blackhats could turn a profit.

It’s assured that mistakes are going to be made when it comes to GDPR compliance by businesses. Should a hacker get in and find that a business has been in breach; they could use this to extort businesses. They can do this by asking for ransom that’s less than the potential fines; in return of not alerting the authorities.

Businesses decide to avoid Europe instead of becoming compliant

It’s more than a possibility that businesses that aren’t based in the European Union (EU); could just decide to no longer focus their efforts on the region. This would mean organisations would block EU residents and businesses from accessing any of their services or products.

Let’s get this straight – the Googles, Facebooks and Microsoft’s of the world won’t be doing this. It’ll be smaller, niche businesses that may consider this action instead of working towards becoming GDPR compliant.

At the moment; no one has come out publicly and stated they’d take this action. However it’s a potential GDPR business side effects which may occur.

End user agreements will let people sign away their rights to get around GDPR

Let’s be honest; when was the last time you read an end user agreement or T’s and C’s when signing up for something? I will be honest – I don’t think I’ve ever made it all the way through.

The theory behind this is that as long as the user agreement outlines specifically what happens to your data – and you agree to it then they’re covered.

Even more scary is what may happen if the likes of Google or Facebook realise what people are willing to agree to. Would they be game enough to write in a clause that they get to use your images; publish your address and date of birth; otherwise you can’t use their service or solutions? Personal experience gives me the feeling people wouldn’t mind – it’s just a requirement for them to use Facebook.

Worried about backup and data compliance around GDPR?

If you’re concerned over data compliance specifically around backup data? Test My Backups is able to help in this space with a Managed Backup Service plan.

How are you dealing with GDPR? Share your experiences in the comments section below. If you’re not wanting to be so public about it; let us know directly!

#datacompliance #Europe #GDPR

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