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The General Data Protection Regulation is expected to have a huge impact on data privacy standards across the EU, and possibly the globe.
Hopefully we can expect to see fewer shocking large-scale breaches. In 2016, Yahoo reported that the data of over a billion users had been breached in 2013. Considering there are approximately 7 billion people on earth… well, the point is that a billion users is an awful lot.
The scale of the breach seems to have been overlooked. Although the breach did impact Yahoo’s reputation and its sale price to Verizon, under the GDPR we can expect to see more substantial penalties for failure to identify such breaches quickly and lack of security.
It certainly should be a bigger deal when large and well-known technology companies allow the data of millions of users to be compromised. By enforcing stronger data privacy regulations and substantial penalties under the GDPR, companies across the globe would understand that future breaches of personal data will not be taken lightly.