By Debjani Chaudhury - January 10, 2020 3 Mins Read
EU has started rolling out stricter laws against online operators dealing with consumer data, including companies that deploy bots to snap up tickets. With automation collecting a massive amount of data, firms need to invest in technology to curb data breaches promptly. These stricter, newer consumer protection rules will roll out to restrict unlawful traders and online tricksters. The new policy is planned to see widespread adoption across every country in the bloc within the next two years.
The new policy draft includes the below measures:
The rules will impact online vendors tapping into the EU consumer market of 500 million customers, and including industry giants like Amazon, Google, and Facebook. These top firms have already fallen prey to tighter competition due to data-privacy rules in Europe. Breaking EU consumer regulations on a large scale may cost considerable fine, amounting to at least 4% of annual turnover for any company.
The new laws will be an extension of earlier efforts to promote consumer protection in the EU. The directive applies to all EU members — though Britain is set to leave the bloc post Brexit. The UK will have the right to decide whether to mirror EU consumer regulations or decide on forming its own domestic laws.
Debjani Chaudhury works as an Associate Editor with OnDot Media. In this capacity, she contributes editorial articles for two platforms, focusing on the latest global technology and trends.Debjani is a seasoned Content Developer who comes with 3 years of experience with Fashion, IT, and International Marketing industries. She has represented India in International trade forums like Hannover Messe, Germany.
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