From The Verge: Facebook will introduce a new privacy center this year that features all core privacy settings in one place, ahead of the introduction of a strict new EU data protection law that takes effect on May 25th. The European Union’s General Data Protection Regulation (GDPR) will restrict how tech companies collect, store, and use personal data. Facebook also says that it’s publishing its privacy principles for the first time, detailing how the company handles user details.
Sheryl Sandberg, Facebook’s chief operating officer said in a speech last week that the new privacy center would give Facebook a “very good foundation to meet all the requirements of the GDPR and to spur us on to continue investing in products and in educational tools to protect privacy.”
The GDPR will enforce rules across the 28-member EU, including a rule that requires companies to report data breaches within 72 hours. Companies must also allow users to export their data and delete it. Under existing “right to be forgotten” provisions, people who don’t want certain data about them online can request companies to remove it. If companies breach the GDPR they would be subject to fines of up to 4 percent of their global annual revenue or €20 million ($24.8 million), whichever is the higher amount.
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