Facebook is reportedly going to change user privacy rules before May. That is because the European Union will release rules on tighter privacy data next month. The EU Common Data Protection (GDPR) Regulations that come into effect on May 25 will govern which technology companies can store users' personal data. Fines granted to companies that store data without the user's permission are also called will be enormous.If not change the rules, Facebook may have a big obligation in the eyes of the EU because it stores huge user data. To reduce potential liabilities, Facebook will change the privacy settings around the world except for users in Europe. That is, 1.5 billion Facebook users in Africa, Asia, Australia and Latin America will not be protected from personal data rules if they do not have legislation. to protect its own people.
These changes affect more than 70 percent of the more than 2 billion Facebook members. In December, Facebook has 239 million users in the United States and Canada, 370 million in Europe and 1.52 billion users elsewhere. Because of its large number of users, Facebook may receive a fine of up to 4 percent of annual global revenues if there is a proven offense. The company that Mark Zuckerberg built could suffer billions of dollars. This move has been confirmed truthfully by Facebook to Reuters on Tuesday (17/4). Facebook is indeed interested in reducing the impact of GDPR on its platform. Facebook, like many other US technology companies, established a subsidiary in Ireland in 2008. They took advantage of the company's low tax rate in the country and then diverted revenue from several advertisers outside of North America. This unit is subject to regulations implemented by 28 EU countries.
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From @channarong