EU data protection laws will stifle big data and the internet economy, warns Acxiom European privacy officer – 25 Sep 2015 – Computing AnalysisBy
Plethora of EU data protection and online privacy laws threaten to stifle innovation, says Dr Sachiko Scheuing
The tag line above was presaged several years ago when a respected study showed that the Data Protection Directive created enormous costs and disincentives to marketing in Europe. But the proposed Regulation, which would establish one statute that would be in force throughout Europe is potentially even more misguided. If your company does business with/in Europe from a home base abroad, the observations of Dr. Scheuing are very much worth reading. The liabilities created by the proposed Regulation could be crippling, and in themselves are a disincentive to establish a “data-based” business operation in Europe. She also astutely points out the relative “absurdity” of the Regulation in assuming that the requirement that data remain within the territory of Europe will better protect it than if it is located abroad. Hackers world-wide are chuckling about that.
We salute FEDMA for continuing to represent the direct marketing industry and all data-based enterprises in the debate in Europe.