European Union rolls out tough new privacy legislation

The video discusses new privacy legislation imposing fines of €20 million or 4% of global turnover for violations, affecting various sectors like social media and banking. Companies must be transparent about data handling, obtain user consent, and allow data deletion or transfer. The law may increase cyber threats, as noted by US Homeland Security Secretary Kirstjen Nielsen, due to potential impacts on internet security research.

What is the maximum fine a company could face for violating the new privacy legislation?

Which types of businesses are affected by the new privacy law?

What are companies required to do regarding user data under the new law?

What power does the new law give to users concerning their data?

What concern did US Homeland Security Secretary Kirstjen Nielsen express regarding the new law?