EUROPE is about to enact strict new consumer protections — but Facebook has gone out of its way to avoid extending the same power to you or me.
LIKE other big companies including Apple, Facebook set up offices in Ireland to take advantage of the country’s low corporate tax rate.But thanks to stricter consumer privacy laws passed in the European Union — which is basically anathema to Facebook — the social media giant has had to reverse course to avoid extending the same privacy protections to you or me.
Facebook members outside the US and Canada, whether they know it or not, are currently governed by terms of service agreed with the company’s international headquarters in Ireland.Two years ago the EU passed something called General Data Protection Regulation (GDPR) which gives EU residents greater access to and control over their own data.
It comes into force in Europe on May 25 and essentially sets a new global precedent for consumer rights over their data.Thanks to Facebook’s tax reduction scheme, about 1.9 billion users would all benefit from the new European law.
Good news, right?