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Meta hit by 1bn fine – comments from expert

Rebecca Harper, Head of Cybersecurity Analysis at ISMS.online, says:

“The Fine is a very robust move for GDPR. Whilst the financial penalty amount will likely be the information dominating the headlines, the cessation of data processing and any corrective orders resulting from this fine has broader implications for businesses.

“With Meta unable to process EU data until an acceptable data transfer agreement is reached, which could be anywhere between July 2023 – Oct 2023, according to European Commissioner for Justice Didier Reynders, the inability to process or transfer data ultimately curtails Meta’s business model within Europe and will have further reaching financial implications for them than just the fine.

“This decision also opens up other Organisations operating within the EU to the scrutiny of their data processing and transfer activities. Any organisation operating in the EU market should look at their data activities with renewed vigour to avoid similar financial penalties and operational curtailment.

“The financial penalty and operational curtailment Meta now face shine a very bright spotlight on the increasing complexity of the Compliance landscape for businesses. For many organisations, this complexity and the increasing number of emerging regulations create huge workloads and in some cases confusion that can seem hard to overcome. Managing this complexity is critical for organisations to avoid fines and limitations of business operations.

Also Read: Ten Ways Enterprise Can Promote Digital Wellness

“What is perhaps not discussed enough, given the growing complexity for organisations, is the significant advantage effective compliance management software can offer. When implemented robustly within an organisation compliance software helps companies manage the growing raft of regulations by removing the duplication of work and tasks that are common to regulations and standards.

“This frees up organisations to focus on the divergences and differences that can be the common stumbling blocks when trying to ensure business processes meet strict compliance requirements. Utilising compliance software can also save businesses hours of work and significant budget, aligning processes internally for greater efficiency and help evidence compliance for regulators.”

Please feel free to use Rebecca’s comments in any pieces you may be working on and do let me know if you would like further insight.

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The post Meta hit by 1bn fine – comments from expert appeared first on EnterpriseTalk.



This post first appeared on The ICT Market Revenue In Brazil To Grow 7% In 2021, please read the originial post: here

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Meta hit by 1bn fine – comments from expert

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