Category: Privacy

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What’s changed since GDPR?

Categories European Commission, GDPR, Technology, DLT, Privacy, Compliance

What’s changed since GDPR?

The European Union’s General Data Protection Regulation came into force on May the 25th and since then many things of changed. The regulations were designed to provide a much-needed update to the previous legislation that was designed for a time that did not include the internet as we know it today. But what has really changed in the last three months?

Fewer emails

The majority of email users noticed a dramatic increase in the number of emails they were receiving, prior to May 25th. This was due to the last ditched attempts of a number of businesses to receive the permission they required from the user to continue emailing them after the GDPR was introduced. Most people ignored these emails and on the morning of the 25th of May, they awoke to empty inboxes, much to the delight of many.

Less snail mail

There has also been a significant drop in the number of letters being sent via traditional mail. The Royal Mail in the UK noticed an 8% immediate drop in revenue from “snail mail”, due to the fact that companies are no longer allowed to send marketing materials and others to recipients on their mailing lists.

Longer privacy policies

Have you ever read a privacy policy? Whilst most people don’t take the time to read the privacy policy of a website they visit, if they were to read it, the chances are that it will have increased in length by up to 25%. This is due to having to cover more stringent requirements and standards than before.

Higher levels of compliance

Lack of infrastructure or a solid knowledge of how to become compliant resulted in a situation where many companies did not know how to go about adhering to the new rules. Fortunately, it seems that businesses are starting to work on this with a recent TrustArc survey showing that 53% of businesses are in the implementation stage and 20% consider that they are compliant. Full compliance with the GDPR is expected by 93% of all businesses by the end of 2019.

You are not sure if your business is adhering to the rules? Failure to comply with the GDPR can result in crippling fines and restrictions. E&S Group can help you to ensure that all of your processes are in order and that your business practices and operations are in full compliance with EU and local privacy laws. Send us an email on [email protected]

 

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MFSA organised a seminar titled: Due Diligence and Cybersecurity in Relation to DLT

Categories Blockchain, Cryptocurrency, Regulatory, Malta, The Blockchain Island, DLT Regulation, Smart Contracts, Technology, Trading, Regulation, Artificial Intelligence, Tokens, Conference, MFSA, DLT, Privacy

MFSA organised a seminar titled: Due Diligence and Cybersecurity in Relation to DLT

 

Last Tuesday, 11th September, MFSA organised a day seminar for those who work in the field of DLT and Fintech which took place at Corinthia Palace Attard. The seminar titled ‘Due Diligence and Cybersecurity in Relation to DLT’, discussed many challenging issues that the DLT is facing. Many topics were discussed during this seminar, with a particular focus on cybersecurity, hacking and fraud.

E&S Group was represented by its team who gained a better insight into this ever-growing space.

Speakers from around the world, (most notably coming from France, Germany, England and the USA), attended the seminar. They spoke about their concern about hackers’ attacks which are made every day, and also covering the topic of frauds. In fact, in the past few years, many banks have experienced some kind of attack, with the consequence of losing their customers’ money. As a result, this has made the DLT space to look like a high-risk sector. However, everyone working in a network is subjected to an attack. The speakers all agreed that the blockchain technology needs to implement some sort of due diligence on the platform, preventing any hacks and tarnishing the sector further.

Moreover, it was discussed that crypto investors should conduct a due diligence procedure, helping banks and exchanges to identify who is fraudulent or not. Those institutions that do not follow any due diligence procedures are subjected to hackers accessing customers’ wallets, thus resulting in the bankruptcy of the company. In order to prevent such theft in the sector, cryptographers are creating complex algorithms to prevent such wrongdoings. This will help maintain the system to stay safe in combination with constant checks done to make sure no access is given to intruders. Mrs Maria Vello from Cyber Defence Alliance pointed out that that hackers are not anonymous and many criminals who stole money from banks have been caught by police.

VFA Agents in DLT

The event also highlighted the importance of VFA Agents. Accountants, auditors and lawyers who are applying to become a licenced VFA Agents have to go through a rigorous procedure, including, an exam, an interview and the applicable due diligence. The MFSA stated that this procedure is important to eliminate any “bad practises” within the industry. Moreover, the licenced VFA Agents need to conduct the Financial instrument test on their clients, thus presenting all the required information, one of which being the white paper, to the authority.

Malta has become the leading jurisdiction to have a friendly approach on DLT sector. At E&S Group we have helped over 80 ICOs to launch their project in Malta. If you would like to join these companies but require further advice, please contact us at [email protected] or by telephone on +356 2010 3020. We make things happen!

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The last recording made by Julian Assange  to be Shown on World Ethical Data Forum in Barcelona, September 19th and 20th, 2018

Categories Conference, World Ethical Data Forum, Privacy

The last recording made by Julian Assange  to be Shown on World Ethical Data Forum in Barcelona, September 19th and 20th, 2018

Australian-born WikiLeaks founder since 2006, Julian Paul Assange, became scandalously known to the whole world in 2010, when WikiLeaks published a series of leaks including the Collateral Murder video (April 2010), the Afghanistan war logs (July 2010), the Iraq war logs (October 2010), CableGate (November 2010) and much more. Nearly 750,000 classified, or unclassified but sensitive, military and diplomatic documents were disclosed to WikiLeaks by Chelsea Manning, an American activist, politician, and former United States Army soldier. Following the 2010 publication of US diplomatic and military secrets, the federal government of the United States launched a criminal investigation into WikiLeaks.

Assange was granted refuge at Ecuador’s embassy in 2012 while he was on bail in the UK over sexual assault allegations against him in Sweden. The Swedish criminal investigation was dropped in 2017, but the British arrest warrant for breaking his bail conditions remains active. On 27 July 2018, Ecuadorian President Lenín Moreno revealed that he had begun talks with British authorities to withdraw the asylum for Assange who must ultimately leave the country’s London embassy, where he has lived for six years.  Assange has been cut from internet connection, computers and phones, although he still speaks to his lawyers.

After Julian Assange claimed asylum at the Ecuadorian embassy in London in 2012, and especially in the five months since Ecuador cut his internet and communication channels, effectively silencing him, Ms.Jennifer Robinson has become increasingly prominent as a voice for Assange and WikiLeaks, winning profound admiration for her passionate, composed, eloquent and rigorous advocacy of civil liberties. Her speech at the World Ethical Data Forum this September will explore many issues, including data and information privacy, individual rights, and her experiences representing Julian Assange and WikiLeaks in the unambiguously hostile climate of the mainstream media and the adversarial relation to several states (including notoriously the US) they find themselves in.

Julian Assange had managed to record the last video before his communication channels were cut off by the Ecuadorian embassy in March. An hour long, this never before seen video, covering subjects such as the conditions of his detainment, his reasons for beginning Wikileaks and his treatment at the hands of the press, the meaning and importance of cryptography, and the recent advances in AI hacking, cyber-warfare and surveillance technologies, is scheduled to be shown in Barcelona.

Talks and presentations on the forum will range over areas including mass data and data-analytic technologies, their use and safeguards, the importance of limits or lack of limits to access for security agencies and government, data rights, the commercial use of data by marketing, media organizations and big business, as well as recent innovations in artificial intelligence, the development of cryptocurrency and ICO regulation, and the benefits and pitfalls of blockchain technology and its future applications.

Currently, the positions that people and companies take on the spread of information ethics can be described as a spectrum or even ethical agnosticism. As regulatory frameworks are created for new technological advances and begin to evolve and take shape, so would the position of influencers, entrepreneurs, lawyers on what may or may not be the correct be determined by which to administer and administrate technologies. The question is, where do YOU stand?

For more information on the event, please visit: worlddataforum.com

 

Interested in legal consultancy in Malta? Contact us by email at [email protected] to find out more.

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