Have You Wondered if Your Personal Data is Truly Safe?

Data Protection has come a long way in recent years. Last week, on the 19th of July 2024, Nigeria's Federal Competition and Consumer Protection Commission (FCCPC) fined Meta $220 million for what it claimed was deliberate violations of domestic data laws, after a 38-month investigation. It adds to a growing list of fines Meta has seen levied against it due to its adverse approach to data usage. The passage of the GDPR in the EU has resulted in a tougher stance against data usage by firms and therefore better protected personal data.

🔹 According to UN Trade and Development, 71% of countries have enacted data protection laws, while 9% have such legislation drafted but not yet signed into law. While the number is trending upwards, it is critical that in today’s increasingly digitized world, every country enacts its laws protecting its consumers from predatory data usage by large IT corporations.

🔹 Data Protection measures are the toughest in Europe. This is partly thanks to the GDPR, widely perceived as the strongest law against inappropriate data usage in the world. This law gave consumers the right to have their private data protected. It was due to the GDPR that Meta was fined $1.3 billion in 2023, a record-breaking sum. In addition to Meta, other name-brand companies have been on the receiving end of hefty fines from EU member states for GDPR violations. Some of these include Amazon, Google, and WhatsApp, amongst others.

🔹 Protecting our Data has become increasingly important. This is due to the advent of Social Media and more widespread use of the Internet. The increased digitization of many different aspects of life, ranging from credit cards to even Government IDs, has also led to concerns over inadequate data protection laws. In the past 18 months, we have seen a rise in the prevalence of AI. These tools can or plan to use social media metrics and information for training and knowledge acquisition. This underlines why we must take data protection seriously.

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