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China Fines Leading Ride Hailing App Didi $1.2 Billion in Ruling That Clarifies Violations of Data Laws
Tuesday, July 26, 2022
While the Chinese government may have had additional reasons for this campaign, the country’s domestic tech firms did play very fast and loose with user data during their rapid rise.
Ilia Kolochenko, Founder/CEO and Chief Architect at ImmuniWeb, notes that this decision indicates that China has gotten very serious about the data privacy of individuals and will not hesitate to levy major penalties under its data laws: “This case tellingly illustrates that governments all around the globe finally start taking data protection and privacy seriously. This trend is clearly visible not only in developed Western countries, which set the tone with GDPR back in 2016, but in many developing countries in Latin America, Africa and Asia. Importantly, the growing number of regulations increasingly impose personal liability upon corporate executives for a failure to implement and supervise an adequate data protection strategy at their company. We shall expect higher fines both for non-compliant companies and their executives, whilst the latter will not necessarily be covered by corporate insurance due to the novelty of the issue. Ongoing risk and threats assessment, privacy impact audits and implementation of a systemized, risk-based and process-driven data protection strategy is the only way for executives to avoid facing harsh monetary penalties or even a personal bankruptcy.” Read Full Article
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