European Union’s new GDPR(General Data Protection Regulation) went effective since this Friday(May 25th) and within hours of it being effective Internet giants, Google and Facebook have been hit with huge fines.
EU’s GDPR is more about how large tech companies handle data and urges transparency over the data they collect. Since Friday, these companies notified users about their Privacy policies and Terms & conditions.
These companies are forcing people to adopt a “take it or leave it” approach which essentially amounts to demanding that users submit to intrusive terms of service. This was reported by Austrian privacy-advocacy group Noyb.eu.
Also, several media publications across the globe restricted their services to European countries.
According to EU’s new GDPR act companies that don’t comply with the new rules will have to pay $20 million or 4% of their annual revenue whatever the highest is.
If EU agrees with Noyb.eu then this will end up Google paying up to a $4.88 billion and $1.63 billion for each of Facebook, and its Instagram and WhatsApp services.