Our dear European Legislators will be quids in from May 2018 when they finally get their way with us.
I wonder how many of you have considered this. Fines to be introduced from May 2018 for breaches of GDPR could be 20,000,000 Euros or 4% of your company global turnover whichever is the greatest. Let me put that into perspective for you. This means if data breaches continue in the UK at their current levels fines paid to the European Legislator could see a near 90-fold increase from this years £1.4bn to £122bn based on the maximum fine of 4% of global turnover.
OK here is another way of putting it. Dear old talktalk were fined a record £400,000 in October 2016 for breaching the current data protection act, simply basing that on their global turnover for the same year that would have been a fine of, are you ready for this……….. £72,000,000 under the new GDPR legislation. Has that sunk in yet ?? Talktalk you should have left the contract with me and you would never have made the news.. I’m just saying.
What I also find mind blowing is that the GDPR set by European Legislators so that the whole of Europe operate under one Data Protection Act is still to be applied to us here in the UK even though we went through a little thing called BREXIT. There is no getting away with it. Even if you are trading with countries outside of the EU such as the USA, they too will have to comply with the new legislation if they want to trade with us or any other part of Europe….. I mean who is going to police that one?? Of course, I know that anyone reading this already knows all of this shit…….. well er……. not necessarily, because it seems that there are still over 50% of UK businesses that have no idea about GDPR, what it is, when it comes into force….. add that to the estimated 90% of UK consumers that are completely unaware of the act that has been put in place to protect their privacy DUUUUUURRRRRRRRGGGGGGGGHHHHHHHH!!!!!!!!!!
Considering that within the act we will have to gain ‘brand’ specific double opt-in permissions, store all permissions given in a retrievable system be it electronic or paper and allow consumers to be ‘forgotten’ if they so desire. This also bothers me that we could see an avalanche of PPI type claims hitting the market once again, opening those over used floodgates of cash.
Our successive governments have themselves been guilty of some of the worst breaches of data security in history I wonder if the fines will apply to them via us as tax payers.
Then think about other world economies that rely on European consumer data for the growth of their call centres that have become their major industrial hubs over the last few years, places like India and the Philippines how will this affect them and their continued growth.
I still believe it took a Numpty to come up with this legislation, someone that has never worked in commerce before or as Alan Sugar so eloquently put it about our last business minister ‘How can he advise on business when he’s never worked on the coal face before’
At a time when the UK should be supporting its marketing industries, whilst definitely protecting the consumer, could it not have produced something a little less restrictive, with the help of the said industry sector. The fact that we could be in a position where in order to market a product to a consumer we have to have specific permission from that consumer in order to market that product but how do we contact that consumer to obtain that permission in the first place, blows my mind…..
At the cost of protecting the consumer that knows nothing about it in the first place we could be set on a path of ruin for many sectors of UK industry. By imposing huge fines we restrict creative flair and scare entrepreneurial influencers at a time when we are approaching our exit from Europe. Seems to me that one way or another they saw this coming and came up with ways to still grab our cash. Still as I have previously written it could be good for the resurgence of Direct Mail and all of us getting lots of untargeted, unnamed, post flooding through our letter boxes. Add all this to the fact that my diesel car that I once thought a better option is to be scrapped along with petrol cars in a few years and I now believe I do live in the land of ‘You Couldn’t Make It Up Could You ??’