What the new EU data protection laws will mean for Australia’s media and marketing industry
With the EU General Data Protection Regulations set to apply from May 2018, Kamani Krishnan, director of regulatory affairs at IAB Australia, looks at the impact it could have on Australian businesses.
In six months time, on the 25th May 2018, the EU will undergo the greatest change in decades to its data protection laws when the EU General Data Protection Regulations (GDPR) come into force.
Many Australian organisations may be thanking their lucky stars that it’s not rolling out here – but given the global nature of our digital world – they need to think again.
GDPR will mean significant change for many Australian companies who have a footprint of any sort in Europe (and yes the United Kingdom is also subject to GDPR until it formally exits the EU in 2019).
Last year I undertook a course through the Law Society of Ireland on the GDPR and it is quite daunting – definitely something that should not be ignored. They also tend to refer to the European Economic Zone more so than the European Union which indicates their sphere of influence is wide.
It is very valid that to ignore it is at your peril – the responsibilities are broad and the penalties large.
Just pointing out the irony of talking about the success of print with an image of a magazine recently closed by Bauer Media.
Even so, as someone that works in print – I hope everything Nick says is true – long live print!
Maddie