In the EU, the General Data Protection Regulation (GDPR), which will be implemented in May this year, is the largest revision of privacy data laws since the birth of the Internet. The ordinance aims to give residents in EU member states more authority to manage their own information and to set out how companies use user data.
Once a company is found to have violated the law, the company will be punished with a fine of 4% of the highest annual global operating income or a fine of $24.5 million.
Sandberg said: “We have always attached importance to privacy protection Facebook gives users sufficient control and the right to know.This allows us to meet all the GDPR requirements and urge us to continue to increase investment in product development in order to better protect User privacy. ”
The EU’s new Privacy Protection Law, which will be released in May this year, will affect all companies that need to collect large amounts of user data within the EU, including technology companies, insurance companies, and banks. Facebook’s use of its user data and its tracking of online behavior have been investigated by several EU data protection authorities.
Sandberg stressed that Facebook is not doing enough to stop its platform from being abused, saying it will hire more people for data security management and that by the end of this year 20,000 people will do the job.
Facebook has been criticized for being manipulated by Russia over its platform during the 2016 presidential election in the United States, and Facebook is now focusing on stopping the spread of fake news on its platform. “People write fake news headlines to earn clickthrough rates to make money, so if we can block those people from our advertising system and stop them from serving ads, it’s one of the things we can do to stop fake news.”
Source: martechtoday
