New, Strict EU Laws Force Facebook To Redefine And Publicize Its Privacy Principles. A major victory for privacy advocates, the EU’s General Data Protection Regulation will be the biggest overhaul of personal data privacy rules since the birth of the internet. Drastic fines announced.

The Inquisitr -

The Inquisitr—EU’s General Data Protection Regulation will be the biggest overhaul of personal data privacy rules since the birth of the internet.

Facebook will need to re-register consent from all its users in Europe under the EU's new privacy laws. Facebook will have to re-obtain consent from all its existing users, for all the data it is currently holding on them, according to Europe's new "ePrivacy law" and the upcoming General Data Protection Regulation. "Existing data will risk becoming obsolete," Goldman Sachs says. The law applies to all tech companies that do business in Europe, but Facebook will be especially affected because its business consists entirely of user data. COO Sheryl Sandberg has already told analysts she expects...